Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of troubled broker MF Global (NYSE: MF ) stayed perfectly steady today. However, that was only because trading in MF Global's shares was halted. If that hadn't been the case, the shares would have been falling faster than a bowling ball off the top of the company's midtown Manhattan headquarters.
So what: After an incredibly turbulent week that included a major earnings disappointment and the painful reveal of massive bets on European sovereign debt, MF Global filed for Chapter 11 bankruptcy protection. The company, run by former Goldman Sachs (NYSE: GS ) head Jon Corzine, had hoped to turn itself into a powerhouse in the image of Goldman, but it was looking a lot more like Lehman Brothers for most of last week. Though the company hired Evercore Partners (NYSE: EVR ) to explore possible sale options, there were no solid takers in time to save it.
Now what: You hear that sound? That's the fat lady singing. The process forward is probably going to consist of seeing MF Global sell off its yet-attractive crown jewels to pay back as much as it can to creditors. Equity holders? Yeah, they'll probably end up with bupkis.
Want to keep up to date on these stocks?