IndyMac Bancorp???????

Question

Now that they have filed for bankruptcy, what happens to their stock?

Answer 1

IndyMac stock will be worthless.  Once that happens you can write it off on your taxes unless it's in a retirement account.  

Answer 2

A tax write-off on Sch D.  Sorry....

Answer 3

Typically, when any company files for bankruptcy, whether chapter 11 or chapter 7, their stock becomes completely worthless once that procedure is completed.  IndyMac is filing for Chapter 7, after which they will cease to exist, and any and all stock will be worth 0.  

Answer 4

"The document, signed by CEO Michael Perry and an attorney, estimated that IndyMac has between $50 million and $100 million in assets, but $100 million to $500 million in liabilities."

http://www.thestreet.com/s/indymac-banco...

They have more debt than assets and that means the creditors won't be paid in full. So the stock goes to zero. It is gone.

Answer 5

most likely it becomes worthless.