Over the past couple of months, the seemingly ever growing momentum crowd has discovered a new playing field: Bankruptcy stocks.
With the bad news finally out of the way, momentum traders have started chasing some of these stocks, even if the company has explicitly stated that existing equityholders will be wiped out upon emergence from bankruptcy.
That said, not all bankruptcy stocks are suited for this latest version of a greater fool game as major exchanges like the NYSE and Nasdaq usually delist stocks of bankrupt companies. While the NYSE tends to act rather swiftly,