Just Energy Group Inc (fka JENGQ)

[Jaded Past]

WoW! This news is Awesome for $JE!

[Fitzy_O]

Early morning shorties going to be done soon. Then back to green.

[ttottip]

We'll break the HOD soon!

[ttottip]

Soon green.

[ttottip]

Technical indicators point to strong buy.

[ttottip]

ENOUGH! TIME TO RISE!

[ttottip]

Let's make some money here!

[ErnieBilco]

There is no need to re-announce an RS that has already been approved - that's just FAKE NEWS. The RS DOES happen tomorrow unless company announces another delay in implementing their BK reorg plan AGAIN

[Supersue]

https://alphastocknews.com/just-energy-group-je-stock-continues-for-the-top-heres-why/4201/

[pberger]

Not any update from the company, it certainly
SUCKS!

So, will the RS be effective tomorrow or not?

What about SEC announcement regulation (10 days before action, etc).

Announcement from September 16st is obsolete, is it mandatory to introduce a new one or not?

Easy question, but no clear answer so far.

[ErnieBilco]

Posted to TDA upcoming events.

SEP
29
2020
Stock SplitSplit ratio
1:33Pay date
September 29, 2020

[kingsransome]

$3+ this week,,mhop $$$$

[LionsPride]

such misinformation traded it twice ty see ya'll rs now 9/29 on website gl
walked away w profit

[jazz5201]

This can go over a dollar and if we get a PR today this is going to fly.

[pberger]

Spoke too early. Spike up to $.49 and consolidating around $.45 now.
So far, so good, GLTA!

[pberger]

No surprise here (for me) but witnessing the first PM trades, now everybody can see that indeed this stock is tradable as usual without any RS effective today

[jazz5201]

I agree, it may take time but think it will spike.

[RMC22]

Huge day coming ..get ready massive volume ahead

[Jaythesaabguy]

It's the weekend. Lol

[jazz5201]

This board is absolutely dead. Everyone given up on JE?

[jwakstock]

Great news for JE. Huge short squeeze (probably greater than SPI) is expected on Monday.

[magicdaddy]

JE chart... it has reset and now reflects the split. Last week you could see where it dropped from $6.60 to .2125 on the 16th, which was a x30 drop.

The good news, imo, is from the 23rd update: "The Recapitalization significantly improves Just Energy’s financial flexibility with a cash injection of approximately C$100 million from its equity raise and, among other things, reduces net debt and preferred shares by approximately C$520 million."

https://ih.advfn.com/stock-market/NYSE/just-energy-JE/stock-news/83280457/just-energy-announces-update-for-closing-of-plan-o

[pberger]

Sure it is but it's the old notification for September 16st that was postponed.

At the very least it has to be officially rescheduled, no?

[magicdaddy]

Ok, thx.

[jazz5201]

It's listed for Canadian "CA" not USA "NYSE" stock split.

[magicdaddy]

$JE - pberger, JE is on the link you posted, scroll down to 42 or so.

Just Energy Group Inc

1:33 - split ratio

2020-09-16 - ex-date

2020-09-10 - announcement date

2020-09-16 - record date

https://hedgefollow.com/upcoming-stock-splits.php

Quote:
"But before that, it has to be properly announced to the exchange which is not done so far. As a consequence, you won't find it in the scheduled RS list, e.g. from this RS calendar dedicated website, https://hedgefollow.com/upcoming-stock-splits.php";

[pberger]

No, the deal has to be completed on Monday, THEN the RS will be triggered.

But before that, it has to be properly announced to the exchange which is not done so far. As a consequence, you won't find it in the scheduled RS list, e.g. from this RS calendar dedicated website, https://hedgefollow.com/upcoming-stock-splits.php

The company plans to do it but administrative duties have to be completed before.

It could even take several weeks before real implementation, IMHO.

At the very least, new share count not before 29st, AFAIK.

Of course, if you can prove me wrong by exhibiting some NYSE filing, please proceed.

[Scotttrader80]

imo their wording is decepetive, just call it what it is a 33-1 reverse split to end the confusion. It took place September 16th but doesnt go in to effect until Tuesday the 29th.

Thats all they had to say for clarity

[LionsPride]

$JE What u all dont understand is a phone call to your broker is worth a thousand words, sell at resistance as i did well 75 for me , but the lows after the nasty candle read a chart also rejected at resistance and short attacked, i rebought 0035 like a bullseye on a dart board! Yes it is confirmed RS execution at market open Monday look for possible squeeze then im haulin ask
less see if im correct open @11$
squeeze to? very open chart going up should be interesting
Brokers are also sometimes just as bad as the damn people who post , misinformation etc ,why i called multiple brokers!
LP

[Hokieman04]

The rs was canceled it was gonna happen the 16th but until the company says other wise monday should be good the feds are injecting 75 mil next week

[omri]

Ikr people on here thinking there will be a RS on Monday smfh

[omri]

There will be no rs people

[LionsPride]

$JE Massive Short Squeeze Monday
5 mill OS after share consolidation
should open at 11$-$12 and squeeze like a S.O.B.
Sold 75 today reloaded 35 eoday cyall monday trading 101

Market Date Short Volume Total Volume Short Volume Ratio

2020-09-25 65,656,843 259,858,320 %25.27
LP

[Jaythesaabguy]

Glad i got in way low. lol See yall monday.

[petermic]

Correct. Preferred holders get 0.33 common shares per 1 share of preferred.

Therefore if you pay $3.00 for 3 shares, you end up with 1 share of common for $9.00.

[ErnieBilco]

Aren't the preferreds being delisted after the conversion? So they are getting common stock like everyone else.

[petermic]

It's impossible to know on any board who is posting honestly and who is simply trying to pump the stock. You have to figure out the facts for yourself.

In the case here, the new money coming in is composed of new investors paying $2.57 (all numbers are in US dollars) per new share and those who exercised their rights to buy more, also at $2.57 per share. In total those 29mm new shares are bringing $75mm into the company. Together they represent about 70% of the total post-restructuring total shares.

Existing debt of $175mm also converts that into common stock at $2.57 per share per $1000 of bonds. This yields 6.3mm new shares for them - another 15% of the total.

That leaves the preferred and the common stock. There are 4.7mm preferred shares outstanding, and they will convert into 1.6mm new shares at .33 per preferred. The preferred price is controlled by the market - around $3.25 currently. If you buy 3 shares of preferred for $9.75, you will get one new common share, and you will have paid $9.75/share vs. the $2.57 most are paying. Bad deal!

The common is worse. If you buy 33 common you get one new common. At $0.40 you'll pay $13.20 per new common share. That's the same share that 75% of holders paid $2.57 for.

There's no way that the common will be worth $13 share next week. If it starts getting there those who own 75% of all shares will be selling as fast as they can, for they will have quintupled their money immediately. The common will probably trade between $2.50 to $4.00 per share next week. This translates to between $0.08 and $0.12 for one of today's common shares.

I realize that facts are unpopular these days, but if you ignore them you will lose money. There's just about no doubt about it.

P.S. I am not short JE, but I am short the preferred.

[Jaded Past]

The After Hours today and Monday's Pre-Market are going to be WILD and CRAZY!!!!

[justbecause516]

So Tuesday this gets rolled back by 33 and the price multiplied by 33 in a perfect world lol?

[jwakstock]

Looks like shorters are done for the week. Some bounce is expected.

[Fitzy_O]

Some of you take this way to seriously. JE has its runs and sell offs just like every stock. Nothing bad here.

[pberger]

This was a dumb speculative intraday play from me but what to expect when carrying over the weekend a stock whose analysts agree the target is between $0.37 (high end and current price) down to $0.20?

See e.g. https://www.nasdaq.com/market-activity/stocks/je/analyst-research

[Scotttrader80]

Try looking past Monday after the dust settles. JE's 52 week range is quite drastic $0.2400 - $93.7200. Dollars will re-print once things settle down.

Analysts say a lot of things, they too have agenda's. This one could be working with a MM to bring things down. Meanwhile the company still has electric/gas customers needing service as winter approaches.

[ErnieBilco]

I've made money on splits and lost money on splits. It's a part of trading, every once in a while you get caught. Depending on the $$ involved I ride them out - if it goes bad post-split then I could add to pull down my avg to a reasonable level with expectation of a run on the new smaller share structure.

Worst case, I have losses to offset gains on my tax return.

Good luck whatever you decide to do.

[pberger]

Sure, one can expect a rebound on Monday but a rebound from say $0.32 to $0.38 would be no consolation to me, LOL

PS Meanwhile, yet another low. Why should it stop? Some analysts say the current price is still way overvalued and fair value should be around $0.2x

I can stand this SLAUGHTER ANY MORE!!!

[Scotttrader80]

If you havent sold nothings been lost.

[pberger]

I lost a TON of money here having being lured by the PM positive action and, obviously, I'm reluctant now to sell this utter CRAP below $.4

My experience with reverse splits is one can expect on average about a 50% loss from pre split price to post split new price. There are exceptions but they are just that, exceptions.

The latest article from here is pure GLOOM https://finance.yahoo.com/news/rbc-still-sees-doom-gloom-165831629.html

So, there will still be a day before the RS becomes effective. Can we expect some positive traction on Monday, possibly with news?

Meanwhile, I won't see why the downfall this Friday would not continue...

Still holding but...

Any reason to stick to that CRAP and not take the loss and move on right now?

[Jaded Past]

Here is some information on $JE showing the O/S, # of employees and lots of other information!

https://money.tmx.com/en/quote/JE

[ErnieBilco]

The decline is accelerating on TSX -

Fun fact: The conversion rate from CD to USD is .75 per CD

[$Parabolic2030?$]

And problems didn’t cross the borders yet either..

LOLOLOLOL