Does a company automatically get delisted from stock exchanges when it goes bankrupt? Or can a defunct company's shares continue to get traded as essentially a form of cryptocurrency?
Normally negative news about a company will cause investors to sell until the share price approaches zero just as the company fails. But what if investors absolutely refuse to sell (for whatever irrational reasons) and the stock of a dying company remains artificially high?
This question was inspired by the recent intriguing events around Gamestop and AMC. Those companies may not be close to bankruptcy yet but it makes one wonder how far the absurdity can go.