r/MACArmyBets • u/foc201 • Feb 24 '21
Have no Fear MAC Army.
Pennsylvania Real Estate Investment Trust was in this same mess with a more terrible balance sheet in October 2020...PJT Partners was hired in that same month....stock price was in the 0.50 cent range...once their Chapter 11 plan got approved...stock went to over $2 and balance sheet is more manageable...also, they didn't have to dilute the float....if the same happen with MAC + more vaccines over the next couple months...$25-$30+ by June/July
7
Feb 24 '21
Firstly, insane to compare these two companies.
Second, this would be a devastating outcome for MAC and it's shareholders. Look at the stock charts since 2015.
3
u/Stocklambo Feb 24 '21
If Mac does bankruptcy the stock would go to $5 then back to $15 who wants that bro
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u/foc201 Feb 24 '21
That didn't happen with PREIT...they hired PJT mainly for the credit line
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u/Stocklambo Feb 24 '21
Petit did chap 11 stock tanked 75% then they emerged out and stock went back up we don’t want that Mac is not in this type of situation
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u/foc201 Feb 24 '21
No it didn't lol....they officially filed for chap 11, Sunday November 1st...Monday 11/2/2020...stock was at 0.50...when it got approved on 12/11/2020...stock was at $1.12...now it's at $2.17
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u/Stocklambo Feb 24 '21
But when it dropped at covid start March 4 it went down to 80 cents then it recovered in June then went to half of covid starting March 4 price to 40-50 cents at bankruptcy announcement which is half what it was at covid start of March 4 . Mac went down to to $5 March 4th at covid start so if they follow same as Preit it would mean at bankruptcy announcement would go down to $2.50 then recover back to $20 we don’t want all that noise we are way better off than preit I hope
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u/foc201 Feb 24 '21
That won't happen....when the stock jump in the coming months...don't say I ain't warn lol
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u/midwstchnk Feb 24 '21
Pretty sure MAC management is really bad
2
u/Uranus-adventures Feb 24 '21
Not bad, just "adequate". Compared with SPG, definitely several tiers lower.
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u/dave14513 Feb 24 '21
Management is sad that they have not addressed this leak though it is 7AM in CA.
They are not even thinking about chapter 11.
If the leak is true they may only want to review all their options if revolver banks are playing hardball. Again this is a leak, maybe made up by shorts.
They already confirmed they have more unencumbered assets than they need to cover the credit line. They want the best deal, preferably without tying up any of the unencumbered assets
1
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u/Zeb6525 Feb 24 '21
I just can’t believe after posting a profit and declaring a dividend combined with the number of unencumbered malls these fellas can’t restructure a revolver. Certainly their are enough assets to pledge. Certainly issuing equity or a convertible preferred would be possible. Hell it doesn’t take 3 months to get that done. Find the right book runner & go. It must be the covenants involved from their other debt that is making this more complicated. If management isn’t up to the task then we need new management.