When a stock makes a major move in a single day then it is perhaps time for investors to take a closer look at it. One of the stocks that could be tracked at this point is that of Thai Airways International Public Company Limited (TAWNF), which soared by as much as 26% yesterday.
Earlier in the week, it emerged that a vote on the possible approval of the company’s restructuring plan was delayed by a week by the creditors. The legal advisor of Thai Airways International revealed the news.
The company needs at least half of the creditors to agree to its restructuring plan if it is to go ahead. Thai Airways International has been wrecked by the devastation caused to the travel industry due to the coronavirus pandemic. It is believed that the debt restructuring plan is one way for the company to return to profitability eventually. It might be a good idea for investors to keep an eye on developments in the coming days.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.