What will happen to IndyMac stocks?

Question

What will happen to IndyMac stocks?

Answer 1

It will be going down to 0$ just like Enron or endless companies went out business that base their business on GREED.no care for what so ever for future welfare of the company and its employees

Answer 2

Go to Yahoo Finance and check under symbol "IMB."  The after hours trade was down to 10 CENTS a share on losses of $11.00 plus per share.  The government seizure of its assets would appear to leave the common shareholders out of luck.  The bond holders should be alright.

Answer 3

The FDIC seized the bank on F 07-11-2008 (eve) after the market was closed and everyone was home.

Reuters reports, this is the "3rd biggest bank failure in US history."



The FDIC does not guarantee stock holder's equity in a bank failure. The stock will be desisted soon, then trade on the pinks for pennies, then go to zero when the FDIC can find someone to acquire their assets.

The FDIC has ONLY $53 billion insurance fund. That's a heck of a lot less capital than I thought.

The FDIC estimates they will have to shell out "between $4 billion and $8 billion" to make qualifying depositors whole.

http://www.reuters.com/article/gc06/idUS...

There is about 4% of Indymac depositors that will not be eligible for FDIC insurance.

http://answers.yahoo.com/question/index;...

Answer 4

It is now taken over by the FDIC under a servorship. They will try to unload the banks or its assets. Most probably, bondholders will take a hit, so do not place much hope anything will be left to shareholders.

Answer 5

the bank failed.  the company has a severely negative net value.  common shareholders are at the end of the line as far as liquidation goes.

thus, the stock is completely worthless.  there is no chance for a normal investor to ever see a dime.