Bankruptcy Filing Fallout Continues for NII Holdings

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Bankruptcy Filing Fallout Continues for NII Holdings

Corinthian Colleges Inc (NASDAQ:COCO), Rock Creek Pharmaceuticals Inc (NASDAQ:RCPI) and dELiA*s, Inc. (NASDAQ:DLIA) are today’s top-gaining stocks. The losers are NII Holdings Inc (NASDAQ:NIHD), Tasman Metals Ltd (NYSEMKT:TAS) and Enzon Pharmaceuticals Inc (NASDAQ:ENZN).

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SALT New York: Canyon, Mudrick, Fortress And Sculptor On Finding Distressed Value

At the 2021 SALT New York conference, which was held earlier this week, one of the panels on the main stage discussed the best macro shifts coming out of the pandemic and investing in value amid distress. The panel featured: Todd Lemkin, the chief investment officer of Canyon Partners; Peter Wallach, the managing director and Read More

Corinthian Colleges Climbs

Corinthian Colleges Inc (NASDAQ:COCO) climbed +44.36% today. The for-profit education chain came under fire this week for its loan and debt-collection practices and despite today’s climb has had a rough go in 2014. It closed the day at $0.05 – well below its 52-week high of $2.54. COCO is a new Q2 buy for George Soros.

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Rock Creek Pharmaceuticals Inc (NASDAQ:RCPI), also a new Soros buy, surged +24.48% this Friday. Its price has increased +22.22% over the past five days.

Taking the last spot on today’s list of gainers is dELiA*s, Inc. (NASDAQ:DLIA), the share price of which jumped +23.4% to $0.31. DLIA grazed its 52-week low early this week but has rebounded. Tiger Global purchased 3.4 million of the company’s shares during the fourth quarter of 2013 and has likely posted a loss on this one, with DLIA shares down -64.76% YTD.

NII Holdings Plunges

NII Holdings Inc (NASDAQ:NIHD) fell -33.33% today, hitting its 52-week low of $0.07. A bankruptcy protection filing rocked the company this week, sending its share price down nearly 50% over the past five days. NIHD is a new Q2 Soros buy.

The share price of Tasman Metals Ltd (NYSEMKT:TAS) fell -15.63% this Friday. Billionaire investor George Soros has held 1.7 million TAS shares since the fourth quarter of 2011 and is yet to make a gain on the mineral exploration company.

Enzon Pharmaceuticals dipped -14.29%, bringing its five-day loss to one of -34.55%. Soros initiated a stake in the company during the second quarter of this year, and Carl Icahn has had an ENZN position across various quarters.

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