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A/S is at 1.5 billion, O/S is at less than 80 million....
A/S or O/S? A/S is what they may issue so they don't belong to anyone until they are issued. lol
Thanks, my company has 1.5 billion A/S, definitely not half belonging to investors, so no quorum votes for us...guess it would be nice to see Florida though in October
I guess it all depends how invested you are in the company. I personally would never do that. A lot of companies do shareholder meetings via webcast or conference calls.
What are shareholder meetings like....are they worth the money to go to, or is it better to get a fellow investor to give me the highlights and save the airfare and hotel costs for investing in the company?
If you want a guaranteed sale, then you have to sell it at the bid price. If you want to set your price at the ask (which will be a higher price) you may get filled, you may not get filled, or you may just get a partial fill. As far as realtime quotes, I thought most brokers offer that. Who is your broker?
Compare it to a simple transaction such as the sale of a car.
If you are buying a car, you BID how much you are willing to spend.
If you are selling a car, you ASK for a certain amount.
Naturally, the bid will be lower than the ask because the buyer wants the car cheap, and the seller want as much as he can get for the car.
The seller will sell the car to you only if you pay how much he is asking, right? When a sale occurs, a trade is made. The amount of the transaction is posted, this posting is what you refer to as a quote.
Here may be where you are getting tripped up. The quote is simply the last transaction. It does not say what the next transaction will be. There may be more cars available at that price and there may not be. Could be that the car is no longer available, its gone, someone sold it and someone bought it.
If you really want a car, you will raise your bid to the ask price, and you will buy it. (Called a buy because you came up to the ask price).
If the seller really wants to dump the car, he will lower his price to the bid, and he will sell it (called a sell because he came down to the bid price).
So... you had a sell limit order, the ticker hit your sell limit, but you did not get filled. This is because there were orders ahead of you, and by time they got to your order, no one was willing to buy at your price anymore. This happens often is a low volume market called ('thinly traded'). It is one of many reasons to keep an eye on volume. In a high volume market, you will likely get filled at or very near your number.
L2 (Level 2) Quotes will give you an idea of how many people are lined up to buy and sell at differant prices, but I feel like I just wrote a book - so I'm done. Hope that helped you!
How Does ASK and BID Work With Stocks?
Hi there!
I just got a little bit (or very) when I've placed my order recently, because I've set a sell limit order for a certain price where I wanted my shares to sell, and the price also got hit, but the order did NOT get triggered.
I've chatted with a representative of my broker then and he told me that the ask price did reach the price I've entered, but not the BID price and therefore it did not get triggered (since I was selling).
Now, I always thought that when I buy a stock that I buy it at the big quote price displayed but this person now told me that with any stock I trade I BUY at the ASK price of a stock and SELL at the BID price.
Now, I just want this to be verified from some of you, and tell me where I can get proper ask and bid prices in realtime since I don't see it at my normal chart.
Thanks,
Trado
PS: What does the normal quote price then tell you, if you have to look at the bid and ask price for trading??
Can anyone offer any insight into the roll of MM's and their apparent plot to take over the world?!
I was watching EXPH yesterday, on a uncharacteristically, high-volume day. It was a down day and there was no shortage of shares to be bought and sold.
The total volume was 108+ million, I beleive.
But the Finra reg sho numbers show that there was a shorted percentage of 38+ percent.
I was under the impression that mm's facilitated liquidity in the market.
On this day, there was no shortage of liquidity, so why would they feel the need to add to this?
Another possibility would be that I don't understand what the numbers mean. But I was informed that the numbers illustrate the amount of shares that the mm's needed to supply into the market when the mm's did not hold such inventory.
I completely understand, but on the forementioned day, there was no need to acquire additional inventory, so why the high short percentage?
Thanks for your time.
The lilangeni (plural: emalangeni, ISO 4217 code: SZL) is the currency of Swaziland and is subdivided into 100 cents. The South African rand is also accepted in Swaziland and it is issued by the Central Bank of Swaziland (in swazi Umntsholi Wemaswati). Perhaps uniquely, there are singular and plural abbreviations, namely L and E, so where one might have an amount L1, it would be E2, E3, or E4.
http://en.wikipedia.org/wiki/Swazi_lilangeni
I would go to your local bank with it and ask them.
i have foreign money how do i identify it for trade? it says legal tender for lengemagmumi lamabili emalangeni?
I pay no attention to those "peeps" and their "peeps". lol
If you haven't figured it out yet go here and post it:
http://investorshub.advfn.com/boards/board.aspx?board_id=470
You have to buy them the same way you buy commons through your broker. I have never done it, but I would think they have a different ticker like a fifth letter to designate them. You can read this for help:
http://www.ehow.com/how_4432193_buy-preferred-stock.html
Yes Im serious......I understand there is lingo and acronyms on this site and for trading but what is the obsession with "peeps", as in "my peeps". Does saying peeps to cover up people fall under the same disclamer umberlla as IMO?
how do you get he post stream to work? I can only get some of the posts to 'stream'.
Does anyone know how to embed .htm or jpegs onto Ihub blogs from a mac os?
Does anyone know HOW to buy Preffered Shares?
Great site info. I will sign up and navigate the site today fpr information. Thank you much.
James
When you say "alerts", that could be a few things. One could be someone who sets up a specific scanner so that they get alerted when a stock fits their set criteria such as volume or price alerts. Then there are promo alerts where a group picks a stock to pump and alerts members prior.
If you are looking for a market scanner, I can only tell you what I use and it is Strategy Scanner by Etrade - u have to be an active trader with them in order to get it.
As far as promo alerts, I would never recommend any of them. I don't use any of them. Only thing I will monitor is if someone is promo'ing a certain stock by checking twitter.
Equityfeed would be one site to check out, they have an alert section for stocks with new highs, new lows, price break out, volume break out and block trades with parameter setting of 5, 10, 20, 30, 60 says, specific markets, price range, stock type etc. They also have streaming news and steaming filters to name a few.
http://www.equityfeed.com/
I often read people talk about "alerts" going off for many different reasons. What are some suggested sites for a newbie to set up some of these alerts, paid or free.
Thank you in advance for your time.
James
re: How can I determine a certain stock's share structure?
There are several ways:
1. Call the company direct
2. Call the companies transfer agent
If you can't get the info from there you can check the companies state of incorporation website which can be found here http://www.coordinatedlegal.com/SecretaryOfState.html . You can also go to otcmarkets @ http://www.otcmarkets.com/index.jsp type in the symbol and look under company info.
How can I determine a certain stock's share structure?
Yes vert is a nasty one to watch for and on the flip side shorting can seem the same but nite normally carries out those and more on smaller volume.
Check out these sites for news..
Both are pay sites, Knobias is all news, Equityfeed is everything and news, both have live streaming news with custom setting..
Free sites:
http://www.google.com/search?source=ig&hl=en&rlz=&=&q=otcbb+news&aq=f&aqi=g1&aql=&oq=&gs_rfai=CpZX7e6B7TNLaBpmMhQSexZWkBQAAAKoEBU_QiSbr#q=otcbb&hl=en&tbs=nws:1,qdr:d,sbd:1&source=lnt&sa=X&ei=jqB7TMGgFIH68Aa6lMzIBg&ved=0CBsQpwU&fp=c68f50c8d6720fd1
http://www.microcapmarkets.com/data_main_nav.jsp?market=OTCBB
Pay sites:
http://www.knobias.com/
http://www.equityfeed.com/
Anyone have a source where you can see stock news, particularly the pennies? Even if is is subscription based, I will gladly pay. We do have news here, but I would like it organized so that I can see all news without having to look up each symbol. Thanks!
Thank you for your response!
You may want to read this site noted below. They explain why some analysts valuations aren't always right. Here is what they say analysts use:
The EPS number that most analysts use is the pro forma EPS. To compute this number, use the net income that excludes any one-time gains or losses and excludes any non-cash expenses like stock options or amortization of goodwill. Then divide this number by the number of fully diluted shares outstanding. You can easily find historical EPS figures and to see forecasts for the next 1-2 years by visiting free financial sites such as Yahoo Finance (enter the ticker and then click on "estimates").
http://www.abcstockinvesting.com/stock-valuation.html
Question:What earnings do analyst go by,basic, diluted,adjusted and what should the avg. investor use in his/her dd?
Yea, back to getting up early and paying chauffeur, yuk!
u start early down there
Good morning Pat, summer is over here, kids back to school... yaaawnn
I personally don't subscribe to any penny newsletters but I know that a lot of people do. What I do is watch twitter to see if a particular stock I am interested in buying is being pumped or promo'd by any groups - I try to stay clear of those - especially when they are already up a huge percentage.
You know what, I can't even answer that for you. I have never done that and it is beyond my knowledge so I wouldn't even try to give you advice on it. Maybe someone else reading this board could answer it for you.
I agree, but at same time believe deep analysis and logical thinking are key for both traders and investors.
One way would be to get the latest updates by subscribing to penny stock newsletters, alerts, so as to keep updates and have knowledge to make informed decision
Hi Trix,
I really do appreciate the valuable information here , but please bear with me I am trying to fit the pieces together :)
Say I have enough money to buy some debt/conversion to free trading securities that are not restricted , to be safe could I open
a personal escrow account to do the transfer of cash for securities
exchange ? Do I have to go thru a lawyer ?
Thanks
Bid
Thank you so much !:)
I bookmarked this site years ago regarding PIPE's - it is from 2002 but it has a pretty detailed description:
PIPE transactions
http://www.altassets.net/private-equity-knowledge-bank/learning-curve/article/nz2856.html
23 Jul 2002. Source: Testa, Hurwitz & Thibeault. Michael A Conza
The turbulence of the public markets over the last couple of years has led many investors and companies to look at PIPEs (Private Investment in Public Equity). It does, however, have some pitfalls. Michael A Conza of Testa, Hurwitz & Thibeault gives an overview of PIPEs and discusses some of the structural issues that should be considered by investors.
In a PIPE transaction, investors purchase securities directly from a publicly traded company in a private placement, typically at a discount to the market price of the company's common stock. Because the sale of the securities is not pre-registered with the SEC, the securities are ‘restricted' and cannot be immediately resold by the investors into the public markets. Accordingly, the company will agree as part of the PIPE deal promptly to register the restricted securities with the SEC. Thus, the PIPE transaction can offer the company the speed and predictability of a private placement, while providing investors with a nearly liquid security at a discount from the current trading price.
PIPE flavors
PIPE transactions come in many varieties - differing on the basis of the structure and terms of the deal, the securities offered, and the investor base.
‘Pure PIPE' vs ‘Standard PIPE.' In a ‘pure' PIPE, investors agree to purchase the company's securities in a private placement on the condition that a registration statement for the resale of those securities is declared effective by the SEC immediately after the closing of the private placement. The closing of the pure PIPE transaction, therefore, is delayed until the effective date of the registration statement, giving investors the immediate ability to resell the securities purchased in the PIPE. Due in large part to the legal concerns raised by this structure, a number of investment banking firms will not undertake these pure PIPE transactions.
In contrast, a ‘standard' PIPE transaction is structured so that the private placement of the securities is closed not only prior to the effectiveness of the resale registration statement, but also prior to the filing of such registration statement with the SEC. The company agrees in the PIPE documents to file for the registration of such securities promptly following the closing (typically within ten days of the closing) and to use its best efforts to obtain effectiveness of the registration statement (generally within 30 days of the filing). However, depending on whether or not the SEC opts to review the registration statement, the resale registration process can take several months to complete. Due in large part to this period of illiquidity, investors typically purchase their PIPE securities at a discount to the public market price.
Securities issued. Although various types of debt and equity securities, as well as more exotic securities such as derivatives, can be sold and registered with the SEC in a PIPE transaction, most PIPEs involve the issuance by the company of common stock, convertible preferred stock or convertible debt. As an inducement to complete the PIPE financing, investors also may require warrants as a ‘sweetener.' Warrant terms vary widely, but typically include an exercise price set at a premium to the current market price.
Traditional. The majority of ‘traditional' PIPEs involve the sale of common stock at a fixed price that reflects a set discount (generally five per cent to 15 per cent) from the current market price of the company's common stock. However, traditional PIPEs may instead consist of the sale of preferred stock which, at the investor's election, is convertible into common stock at a fixed conversion price. Such preferred stock may entitle the investors to dividends and other rights and, in a sale, merger or liquidation of the company, will provide the investor with the right to receive back the purchase price of the preferred stock prior to any distributions to the holders of common stock. These benefits can be argued to off-set the illiquidity discount applicable to traditional common stock PIPEs, and therefore traditional preferred stock PIPEs are often priced at or near the current market price of the company's common stock.
Structured. In a ‘structured' PIPE, the company will sell preferred stock or debt securities which, in either case, are convertible into the company's common stock. The conversion price in a structured PIPE, however, is either variable or contains a re-set mechanism that automatically adjusts the conversion price downwards (ie, allows the investor to acquire more shares) if the market price of the company's common stock falls below the conversion or re-set price fixed at the time of issuance. Structured PIPEs provide price protection to investors but subject the company's common stockholders to the risk of significant dilution. Additionally, a structured PIPE transaction may require shareholder approval prior to the issuance of the PIPE securities. In 2001, according to industry surveys, approximately 23 per cent of all PIPE transactions (representing only ten per cent of dollars raised) were structured PIPEs.
The ‘Death Spiral' PIPE. If improperly structured, PIPE transactions have the potential for significant shareholder dilution. Such ‘toxic' transactions typically involve a convertible security with a conversion price that is linked, often at a discount, to the market price of the company's common stock at a discount to the current market price, the discount provides a built-in economic gain, which creates the incentive immediately to sell the securities purchased instead of holding them. As the company's stock price drops, the company is required to issue more stock under the terms of the PIPE transaction. These additional issuances cause further downward price pressure, and the price of the common stock often enters a ‘death spiral.'
The effect of toxic financings is hastened by their unpopularity with institutional investors. Institutional investors are wary of the extreme dilutive effect on the holders of common stock and the historically inevitable decline of their own investments as a result of toxic transactions. Merely announcing a PIPE transaction that does not sufficiently limit the ultimate dilution suffered by current stockholders can negatively impact the company's stock price as existing investors attempt to sell their positions before the results are manifested.
Investor base
PIPE deals are marketed and sold to a wide range of investors, largely depending upon the type of PIPE (eg, pure vs standard, traditional vs structured), the size and industry of the company and the quality of the placement agent, if any, involved in the transaction. Historically, PIPEs were not sold to traditional private equity investors, but rather to sophisticated public market investors focused not only on the fundamentals of the company but also on the technical aspects of public market investing dynamics, such as trading volume, float and volatility. These investors generally do not seek board seats or special approval rights and, apart from their right to a resale registration, are content to be treated as ‘outside' investors.
Recently, a growing number of traditional venture capital firms have made investments in PIPE transactions. Although many of these investments have been structured in a fairly straight-forward manner, it is not uncommon for venture capitalists to attempt to transpose to the PIPE arena the full-blown rights and protections that they typically seek with respect to private company preferred stock investments. Often, such ‘venture capital PIPE' investments will raise a host of issues under the federal securities laws, corporate laws and the Nasdaq rules. Venture capital firms should also carefully review their partnership agreements to determine whether or not an investment in a PIPE transaction is permissible.
Doing the deal
A significant advantage of PIPE transactions over traditional public offerings is that they can be completed rapidly - typically two to three weeks from kick-off to closing. In a typical PIPE transaction, due diligence is limited in scope because of the compressed time frame, and generally consists of a review of the company's filings with the SEC and press releases and investigative conference calls with the company's management, counsel and accountants.
The documentation for a PIPE financing is relatively minimal: typically consisting of an offering circular summarising the terms of the financing and containing a description of the business of the company taken directly from the company's filings with the SEC, a purchase agreement, a registration rights agreement, an investor questionnaire, a legal opinion from company counsel and, in the case of a convertible preferred stock offering, a certificate of designations or charter amendment defining the rights and privileges of the preferred stock.
After the closing of the financing transaction, the company and its counsel prepare and file the registration statement to register for resale by the investors the common stock issued (or issuable on conversion of preferred stock or other securities issued) in the PIPE. Typically, the registration statement is filed within ten days after the closing, and the company is required to use its best efforts to have the SEC declare the registration statement effective within thirty days after the filing. The SEC may elect to review and comment on the registration statement, which could delay the effectiveness past this 30-day commitment. Once the SEC is satisfied with the registration statement, it will declare it effective and resales of the PIPE securities may begin. The company must keep the registration statement up to date during the entire time that PIPE investors are reselling their restricted securities pursuant to the registration statement.
Copyright © 2002 Testa, Hurwitz & Thibeault, LLP. All Rights Reserved
Michael A Conza is a partner at Testa, Hurwitz and Thibeault, LLP.
This article is reproduced with permission of Testa, Hurwitz & Thibeault, LLP. For more information about Testa, Hurwitz & Thibeault, LLP, please contact www.tht.com
Question about PIPE's ?
This seems to be very popular lately, my question how does a person buy stock ( Pinks ) at a discounted price from a company wanting to raise capital without getting burned ? are there smaller funding groups that a investor/trader can trust ?
thanks
Bid
Due diligence: The degree of care and caution required before making a decision. A financial and technical investigation to determine whether an investment is sound.
I guess it all depends upon what your definition of dd is. For me, looking into past filings and reading up on news events is my form of dd. Most of the in and out daytraders don't even want to hear about dd - they are in for a quick scalp.
I think you are talking more about doing dd regarding fundamental analysis and checking earnings, dividends yields, book value, p/e ratio, etc. From what I know about Ihub, these boards cater more toward traders than investors but I am sure there are some that use it exclusively.
Interesting, but that is what I would call a trade set up, as opposed to DD.
Here is what I trade and how:
I trade the 6e and the emini using fibs and volume.
If you go to a daily/15/512 tick chart of either (the emini is more technical), you will literally poop.
Buy at the 50% with a stop at the 38%, and take profit at about 120%.
Make sure the market internals are supporting your trade direction and you will be golden.
Also, never trade against the morning gap.
Does anyone do fundamental DD on stocks?
I saw a post a while back, but haven't re-located it yet. If I do I will post it here as a response.
Thanks for the response and have a great day!
Well there are so many different styles but this is an example of how I do it. I am mainly a bounce player. So I have a scan setup for the type of stocks I want to see - like down a certain percentage, a certain exchange, and by price. Then when I see one that looks interesting I will immediately start checking: First the obvious: news- is there a reason for the dive, and is it warranted (the drop)? Then I quickly check price history, share structure, and past share structure (check reverse split history on any of the bb or pinks). I use http://www.otcmarkets.com/
for checking most of that along with Pro and Market Trader - once I decide if want to buy it I will jump in and the amount I buy depends on how well I already know it or feel comfortable - if it is something that I don't know well and am not too sure of I start with a smaller position. I decide when I go in where I want to exit and that is both on the gain or loss side. That's it in a nutshell. Ask someone else and they will give you an entirely different scenario. lol
It's an open question for people to give their process.
But I am looking for a process for fundamental analysis, I would guess. Now I know that funadamental analysis is useless on non-reporting pinks, but I would like to know how people find the winners that jump.
What type of DD are you looking at? That is a very broad question since everyone has their own trading style. Are you looking at charts or are you looking at news or are you looking at filings? Are you a trader, are you an investor? Get my point? Take a look in the Ibox - there are a bunch of different links there that may be of help to you.
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