Debt restructuring helps any company a lot, especially for investment areas where investors are happy to see shrinking debts. Today CBL & Associates Properties (NYSE: CBL) soars more than 50% on over 75 million shares by reaching $0.289 from as low as $0.1926 due to restructuring support agreement with debt holders.
Real Estate business is hurt very severely during the pandemic along with retailers. CBL feels the upcoming real estate boom as a sufficient number of retailers is ready to operate full time. However, the COVID-19 second wave may ruin everything again.
Short term investors could take quick returns while the pandemic comes with a second wave this fall or winter. Usually, penny stocks soar more drastically than expensive ones.
Finance and Tech Contributor