$CYXTQ A Bankruptcy Play
After it filed for Chapter 11 earlier this month and got delisted from Nasdaq, Cyxtera Technologies, Inc. (OTC: CYXTQ), received six letters of intent to acquire the company, which can be beneficial for CYXTQ since it was seeking to find a buyer or a new investor. Given the high interest in acquiring the company, CYXTQ stock could soar until the final bids deadline on July 19.
CYXT Fundamentals
Bidding War?
CYXTQ was in talks with 75 parties and successfully executed 37 non-disclosure agreements with potential investors. In addition, CYXTQ also received six letters of intent from potential investors which may indicate that it still has a lot of value to offer. That could mean that CYXTQ stock could run on further news regarding the potential sale.
At the moment CYXTQ hasn’t disclosed which companies have submitted letters of intent. However, CYXTQ has outlined that it has to choose a stalking Horse Bidder by July 16 and the final bids will be submitted by July 19, with the final results confirmed by the court no later than September 22, all will be huge catalysts for CYXTQ stock.
Technical Analysis
CYXTQ stock’s trend is neutral with the stock trading in a sideways channel between $0.0212 and $0.0455. Looking at the indicators, the stock is trading below the 200 and 50 MAs which are bearish indications, and is currently testing the 21 MA as a resistance. Meanwhile, the RSI is neutral at 50 and the MACD is bullish.
It is also worth noting that there’s a gap near $0.064 that may be filled in the future if the stock continues witnessing strong momentum thanks to the high interest in acquiring the company.
As for the fundamentals, CYXTQ stock just witnessed two catalysts in filing for Chapter 11 and getting delisted from Nasdaq. The submission of the final bids and the court decision regarding the potential buyout of CYXTQ will be major catalysts for CYXTQ as the stock could soar on any new developments.
CYXT Forecast
CYXTQ is currently going through a pivotal period, with at least six parties considering acquiring it, and the number of bidders may also increase in the future, implying that CYXTQ may still have a lot of value to offer. It is certainly worth keeping an eye on CYXTQ stock and the entire process the company is going through at the moment.
CYXT Fundamentals
Bidding War?
CYXTQ was in talks with 75 parties and successfully executed 37 non-disclosure agreements with potential investors. In addition, CYXTQ also received six letters of intent from potential investors which may indicate that it still has a lot of value to offer. That could mean that CYXTQ stock could run on further news regarding the potential sale.
At the moment CYXTQ hasn’t disclosed which companies have submitted letters of intent. However, CYXTQ has outlined that it has to choose a stalking Horse Bidder by July 16 and the final bids will be submitted by July 19, with the final results confirmed by the court no later than September 22, all will be huge catalysts for CYXTQ stock.
Technical Analysis
CYXTQ stock’s trend is neutral with the stock trading in a sideways channel between $0.0212 and $0.0455. Looking at the indicators, the stock is trading below the 200 and 50 MAs which are bearish indications, and is currently testing the 21 MA as a resistance. Meanwhile, the RSI is neutral at 50 and the MACD is bullish.
It is also worth noting that there’s a gap near $0.064 that may be filled in the future if the stock continues witnessing strong momentum thanks to the high interest in acquiring the company.
As for the fundamentals, CYXTQ stock just witnessed two catalysts in filing for Chapter 11 and getting delisted from Nasdaq. The submission of the final bids and the court decision regarding the potential buyout of CYXTQ will be major catalysts for CYXTQ as the stock could soar on any new developments.
CYXT Forecast
CYXTQ is currently going through a pivotal period, with at least six parties considering acquiring it, and the number of bidders may also increase in the future, implying that CYXTQ may still have a lot of value to offer. It is certainly worth keeping an eye on CYXTQ stock and the entire process the company is going through at the moment.
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