SFXE Stock Fell Another 9.5% Wednesday, Analyst Predicts Bankruptcy

[UPDATED] The battered stock of promoter and EDM culture hub SFX Entertainment (SFXE) fell another 9.5% on Wednesday, closing at $1.04. Yesterday, Wall Street's Seeking Alpha said that SFX was running out. Continue reading [https://www.hypebot.com/hypebot/2015/08/sfxe-stock-falls-4-wed-morning-as-an

[UPDATED] The battered stock of promoter and EDM culture hub SFX Entertainment (SFXE) fell another 9.5% on Wednesday, closing at $1.04. Yesterday, Wall Street's Seeking Alpha said that SFX was running out of cash and likely headed to bankruptcy.

In stark terms, Seeking Alpha summarized the plight of SFXE.

SFXE shares are down over 70% since we published on the stock.
We believe there is still another 100% decline to go.
SFXE is quickly running out of cash and liquidity.
Ticket sales and festival popularity appear to be in decline.
We believe bankruptcy is next.

SFXE stock began its latest dramatic decline on Friday, after CEO Sillerman missed a Thursday deadline to finance a stock buyback, and continued on Monday and Tuesday.

More here.