Last Monday, Patriot Coal Corp was trading at $2.80. On  Fri   it started to plunge when there were rumours that Patriot was gonna file for bankruptcy  & by last night it crashed down to 0.185c  after Patriot filed for bankruptcy on Monday.

Patriot Coal Corp which is based in St Louis, filed for Chapter 11 bankruptcy protection on Mon as it deals with reduced demand due to a number of factors including mild weather, a shaky global economy and cheap alternative energy sources like natural gas.

The impact from Patriot Coal's bankruptcy filing may hurt its peers in the short-term.

Will Sakari go the path of Patriot Coal?