Riviera Tool Company (RIVT)

[MikeyInTheD]

Big trade today. Someone starting a position with 1000 shares at .0001. Good luck

[richsean]

Yo this stock has been stuck for years in my account

[Ewll]

My order didn't go through Friday. But you best believe my order is going through today! :)

[Ewll]

buy low sell high

[Ewll]

i see this stock going to .0003 next week

[Ewll]

this is a good $300 risk

[Ewll]

just placed order on this for 3 million shares.

[Aduke]

RIVT - Looks like another short gave up and decided to cover:

http://ih.advfn.com/stock-market/USOTC/riviera-tool-co-RIVT/trades

[Aduke]

That's a question for whoever bought the shares. Was not me. Cancelled my buy order at $0.010 long ago when noone took up my challenge.

[Crazy Money]

Who would ya sell them to?

[Crazy Money]

O.K. thanks for the reply

[Aduke]

Yes, it does. If you own shares of RIVT to sell at $0.010, put them in the market. I will buy.

[Phoenixxx]

I see signs of the turn coming around.

[Crazy Money]

Does it matter?

[was GoldenDD]

selling my last 1190 shares at 0.08

[janice shell]

Yes, it's just a zombie ticker. And the SEC still hasn't got round to starting an admin proceeding to revoke registration.

[alchemytrader]

Can't blame them. Peeps just want to sell or cover and move on. This thing is crap

[janice shell]

So far, the action's been less than electrifying...

[alchemytrader]

Weeeeeeee!!!

[janice shell]

Yep. FINRA lifted the halt on 7 December.

[alchemytrader]

Wait...this thing is trading again?

[Aduke]

Thanks, minten.

[minten]

yes. the shares don't exist anymore, so any long or short position doesn't exist anymore either.

[janice shell]

Probably most of it is. I can't imagine why anyone would go long. If the SEC revokes registration, shorts probably wouldn't have to cover, though I'm not sure.

But the process, whenever it's initiated, will take at least several months. As earlier conversations here make clear, ever since the halt, shorts have been required to keep up their margin, and have also been stuck paying daily fees. So naturally they want out.

[Aduke]

So now it's all short covering?

If the SEC revokes, the remaining short positions no longer have to be covered?

[janice shell]

No. Shorts were trapped as long as the stock was halted.

[Aduke]

People are still shorting this! Amazing!!! They just will not give up, will they?

[Michael-Goode]

You will likely have to call them. It is that way on many brokers when attempting to exit grey market stocks.

[Jackrabbitslim]

Can't sell on scottrade

[janice shell]

And soon, it will be down. It's important to understand that, and to understand why.

[Cheetah SPEED]

I banked today. Up huge

[janice shell]

What are you talking about? There is no company. RIVT is just a zombie ticker. The SEC will eventually take care of it by revoking registration.

Right now, we're probably seeing some short covering.

[Cheetah SPEED]

Boom time. See u in dollars

[Travisg]

663 left @.07

[Travisg]

2163 shares available @.07 leaving the order open for 60 days if it executed great

[janice shell]

It certainly looked as if FINRA'd forgotten all about it.

[Garyst]

True. I always had thought the same.

[minten]

would have been the sensible thing.

i mean wtf did finra do all this time otherwise.

[Garyst]

I thought you and others said it would NEVER trade again?????

[Garyst]

Dam, didn't even catch this today that it was trading. Amazing.

[Michael-Goode]

Per Interactive Brokers just now RIVT is .05 x .10 (of course they only checked with one or two market makers). I'll hold off on covering for now.

[Michael-Goode]

There is no exchange, but if you replace 'exchange' with market maker then yes you are correct. (And to clarify, market makers can trade grey market stocks for clients but can't trade them for their own account). So when I go to cover my short at IB they have to call up Knight Capital Markets to get a quote.

[minten]

also, AFAIK, there's not 1 bid or 1 ask, but every exchange has its own bid and its own ask.

[otcmoneydoubler]

RIVT..TRADING..GARYST.WEIRD. I..UNLOADED..MY..LAST..ONES@0.0640.

[Michael-Goode]

That is normal with stocks trading on the grey market. There are no market makers and people can't see bid/ask so the price jumps around a lot (of course most of that is trades happening at the bid then the ask). Judging by recent trades it looks like the bid is around .04 and offer is around .06.

[Travisg]

Moved to .07 2163

[Travisg]

Limit sale for someone to cover 2200 shares at .05 now Rofl

[minten]

No. It's Grey Market, nobody knows, there's no available Bid/Ask. The only info you get is Last Price.

You enter your order (limit of course), you choose your exchange if you can, and if you're lucky you get matched (as trades at other exchanges regularly trade through your limit price).

It sucks, but that's why it's Grey. You don't trade this junk unless you absolutely need too.

[trade free]

Travisg, is there a way to find out how many shares are available to match up a sale? Thanks

[ihorchu]

Price is all over the map. Weird.