MGM Bankruptcy Watch p.14

By Philip K. on May 14, 2009 10:15 PM | 0 Comments

Despite the recent bounce in prices, MGM today announced a horrible dilution in shareholder value. They're issuing an additional $1 billion in shares (Bloomberg). The current market cap is only about $2 billion. This amounts to sticking it to the remaining MGM shareholders. Don't let MGM stick anything to you.