Whiting Petroleum filed for bankruptcy a few weeks ago and it is expected than many other oil companies will do so in the coming months. Whiting Petroleum had a market cap of over $10 billion in 2015 and it now worth only $33 million.
Most people want to stay away from bankrupt companies but sometimes the best deals can come from there.
A $10 000 investment in American Airlines in 2012 (the company filed for bankruptcy in 2011) would have yielded over $1.6 million in 5 years. But most companies when they go bankrupt, we don't hear from them again. Remember Lehman Brothers? Is Whiting Petroleum going to come out of bankruptcy? Is it a good investment? I've looked at all these questions on my research partnership: https://ishfaaqpeerally.teachable.com/courses/662813/lectures/15755246