Gaming giant Caesars Entertainment is over-leveraged and in bankruptcy so its shares will most likely become worthless, said George Schultze, CEO of Schultze Asset Management. Schultze added that the shares are being held up by the legal fight, as well as a short squeeze, but will eventually drop once the case plays out and the short-sellers exit. He is also bearish on Diana Shipping, saying the company has too much debt in an industry where there are already too many vessels and shipping rates are plummeting. Finally, Schultze is short the iPath S&P 500 VIX Futures ETN because the shares do not adequately track the underlying index in his view.
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