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Shares of Bankrupt American Airlines Go Sky High for Investors

The entire company was valued at less than $90 million!

—less than the typical list price of a new passenger jet -

"We're tickled to death," said Brett Kramer, managing partner of Pinnacle Investment Advisors, a Tulsa, Okla., firm that manages about $700 million worth of assets.

Mr. Kramer bought about $50,000 worth of American's shares when they were trading over the counter for about $1.35 each in February, a few days before the airline announced its merger. Today, Pinnacle's shares are worth more than $413,000.

Solus, a New York firm that trades distressed debt, held 5.4 million American shares as of Dec. 20, 2012, according to court records. Those shares traded then at around 86 cents for a total value of about $4.6 million. Today, they are worth about $58.7 million.

Source: http://online.wsj.com/home-page

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