GT Advanced Technologies Inc Tells Court It Can't Reveal Why It Declared Bankruptcy

The mystery of why GT Advanced Technologies Inc (NASDAQ:GTAT), a key supplier of components used in Apple Inc. (NASDAQ:AAPL)’s popular iPhone 6, is starting to look like a detective drama.

GT Advanced Technologies' surprise bankruptcy

The company’s surprise bankruptcy came as it was reported to have nearly $85 million in cash on hand – enough to operate for two more quarters at least, analysts said.  As reported in ValueWalk, the stock plunged in value when the surprise bankruptcy was announced earlier this week, but selling in the stock began nearly a month before the formal bankruptcy announcement.

GT Advanced Technologies Inc (NASDAQ:GTAT) only fueled the fire of speculation as...