Hey all. I'm thinking about putting a lot of money into

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46KB, 1611x589px

Hey all. I'm thinking about putting a lot of money into a company called SDRL. Right now, the price of the stock is $1.25. Not even 2 years ago, it used to be $30 and it used to have a dividend. The problem is, when the price of oil crashed, this company was left with a modern fleet of rigs that were sitting idle. Anyway, the company itself has to come to an agreement with it's creditors at the end of April, but nothing has been finalized, and April is fast approaching. Does anyone have experience with stocks that are close to bankruptcy? I feel like this company won't go under, because of the fundamentals of the price of oil, and that the banks will make more money in the long run if this company does not go out of business. I remember the stock price of volkswagon when the price was dangerously low, and then it experienced an epic short squeeze. I feel like the same thing might happen with this stock, but no one is certain at this point and it has been announced that shareholders will be wiped our or at least diluted.