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BORR - Valaris: Fundamentals And Practical Trading
Borr Drilling Ltd
At the very beginning of June, I published an article titled "Valaris' Restructuring Is Near". I argued that Valaris (VAL) will soon have to file for bankruptcy and raise additional funds to stay afloat which meant that common equity was set to get zero in the upcoming restructuring. At that time, Valaris' shares traded below $0.50. Soon after the article was published, the stock went higher than $2.00 but then settled closer to $1.00.
I got a number of questions regarding the practical use of my Valaris thesis. At first glance,