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Petra Diamonds it's haircut ahoy – meetings next week

By Tom Winnifrith | Thursday 22 May 2025


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Bloomberg is reporting that Petra Diamonds (PDL) is meeting with creditors next week as it grappled with a quite unsustainable debt mountain plus other bills. Even Stevie Wonder can see that the only way out is a debt for equity swap that will see shareholders lose almost everything. At 22.5p this is still a compelling short and we perma bears could be celebrating with ouzo very soon indeed.
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