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Shares of James River Coal (JRCC) are down in premarket trade as the company filed for Chapter 11.
James River Coal Company (JRCC) is tumbling on Tuesday after notifying the SEC it would not be able to submit its 10-K annual report as scheduled and that it is unable to make interest payments on a portion of its convertible debt.
James River Coal (JRCC) hit a one-year low of 84 cents on Monday after the stock suddenly plummeted shortly after 3:30 p.m. The stock hovered around its previous closing price of $1.10 for much of the day until the sudden plunge at the end of the day.