I am a total newbie at investing and last year I purchased some stock of BBEP directly without any broker using the Robinhood app. Now BBEP has filed for bankruptcy and I see many people mentioning about CODI. What is CODI and should I worry about this? How much of a tax bill will I get if I hold 1000 units of this stock? I am a California resident if that matters.
Is it better to sell the stock now for a loss to reduce more potential losses from CODI? Please advise.