DRP Journal

Discover Research Profit

Finance 

Bombardier Inc (BDRBF) Stock Pulls Back Slightly After Big Jump in June

Madison Hall , , , ,

The Bombardier Inc (OTCMKTS:BDRBF) stock has tanked by 6.5% this morning after the company announced this morning that its cash tender offer meant for some of its outstanding senior notes has expired. While the stock has declined this morning, it is also important for investors to remember that the stock is still up by 30% over the course of the past month.

Back on June 3, 2021 the company had announced an offer of $1,000,000,000 in total to purchase as many as three series of outstanding senior notes. These senior notes were supposed to expire in 2022 and 2023.

This morning Bombardier revealed that on June 18, 2021 the company purchased senior notes for $88,364,000. Out of that amount, $210,183,000 went to the senior notes that were due in 2022 and $489,937,000 went towards the senior notes that were due in 2023.

This is a significant development for the company but it does not seem that the market is particularly thrilled with the whole situation. It might now be a good idea for investors to keep an eye on any upcoming announcements and see if the Bombardier stock can actually make a recovery.

Market Action:

As of 11:50, BDRBF stock is down 4% to $1.08 with more than 5.27 million shares, compared to its average volume of 1.62 million shares. The stock has moved within a range of $1.0300 – 1.1100 after opening the trade at $1.06.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.