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+70%: The minimum single-day stock appreciation seen Monday, June 8 for a half-dozen companies in or nearing bankruptcy. That included J.C. Penney (up more than 200%), Hertz Rent-a-Car (up over 70%), Whiting Petroleum (up over 200%), and Chesapeake Energy (up over 440%).
“Retail has a lot to do with it and I don’t think you’ve seen institutional investors buying those kinds of stocks,” said Christopher Grisanti, chief equity strategist at MAI Capital Management. “It’s too much risk. I would call it catching a falling knife.” #lazy-img-362572678:before{padding-top:56.25%;}
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