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There is obviously a lot of power in algorithmic trading. I just don't think having the price fall on low volume in and of itself constitutes manipulation.
When there is a lot of demand (retail or via algorithms) prices rise. When there isn't, prices fall.
They are not playing games.
A better way to rephrase what you posted would be "they are dropping the stock because demand is light at prior prices".
It's what they do - it is not manipulation.
No. Yesterday was an odd-numbered Thursday in an odd-numbered month in an even numbered year under a last-quarter moon.
That has always been a traditional holiday for OTC Markets.
They have stated that financials since 2020 are not to be relied upon base on their audit. While this is generally bad news, the 8K went on to state that management does not expect the changes to impact the numbers reported for revenue (top line) or EBITDA (bottom line).
We'll need to wait for the restated numbers, but their comments suggest that this had to do with accounting technicalities (they mentioned income taxes and accounting for acquisitions). If that is true, and the top and bottom lines truly will not be impacted, then things are ok, and the company is in fact making the money we have believed it to be making.
Merging those platforms has taken a very long time.
I suspect they may have it ready by now, but have decided to wait until after year end so as not to screw up tax reporting for all the TDA customers. Now that I think it through, I suspect we will see the platform convergence some time after mid-February, as it takes until Jan 31 for all the wash sales to be resolved and then some time for the 1099s to be generated and sent out.
I'd just like to see SOMETHING happen. A sale of the shell would at least be likely to provide a short term spike.
No - I was making a joke. He owes us nothing and has given us nothing - so he has paid up, in full :)
I agree. He owes us nothing at this point…
…and is paid in full ??
Right - and inertia suggests he will stay that way, wherever he is at.
I don't see the correlation between Venkat staying in India and things bung more likely to start happening for LICH.
In fact you could argue the reverse - the longer he stays there the easier it is for him to stay hard to reach and not have to talk with investors. He could be hiding behind the time zones difference.
Doing anything to jump the gun vis a vis OTC Markets would be a really dumb thing to do.
Unlike you and I, Deng is not speculating on the future of the company and potential price appreciation. Whether or not he added any value (we think not), if he was a consultant being paid in shares he can be expected to dump them at the earliest opportunity. They all do.
On top of that, he may even have inside information to the effect that nothing will be happening for ASKH in the immediate future.
You can easily get the NYT (and Washington Post) Crosswords puzzles online - they are a simple Google search away.
More transparency is always good.
Thanks.
It would be good if OTC Markets were to publish a definitive list of which tickers are affected. They indicate they are reaching out to companies, but many of those companies are not communicating with their shareholders, so shareholders do not know if they are subject to (further) loss of liquidity in March.
My guess is that the March date is more important to shareholders than it is to many of the companies involved, as those companies really do not want to act like public companies in the first palce.
I think he used to be in the department of redundancy department...
Looks like a Chinese stinker but a nice exit opportunity for those in EVCI. One of the Synergy plays I did not buy into way back when :(
The company is asserting that the WDHI shares will trade at $5. The market is saying "we don't think so". There is NO independent confirmation of that $5 value.
To me this looks kind of like a "corporate garage sale", where odds-and-ends assets are being pushed out the door.
WDHI shares will be worth whatever someone is willing to pay for them when they have been received and can be traded. I have substantial doubt that will be $5.
Good luck to you - hope you make money on this play. I will pass. If anything, HNRC as a pure O&G play after divesting the WDHI assets (by definition, leftovers that are no longer wanted) might be more interesting to me after the spinout of WDHI shares has occurred.
That is a BIG hope. I think it far more likely that we see new lows before EOY than get back to old highs, especially as we could encounter some tax selling.
Couple of problems with that logic. If my calls were out of the money (and they were), the shares would not be called but if the price approached the option strike price I could get a call as the compliance dept. would see increased risk. Additionally, options settlement is next day while common trades settle in two days - there is still a day of potential exposure.
A sharp move could still really hurt.
Main thing is I don't like being moved from a (voluntary) very low risk situation to an (involuntary) very high risk situation.
Anyway - it is a moot point now as I removed that account from the lending program.
NRDY up to 2.48 today (was 1.95 on October 24). Q3 loss (for quarter ended 9/30) reported on 10Q yesterday was less than expected, revenue was in line with estimates.
I don't think there is anything evil there. Company puts out news, retail gets excited and buys, shorts realize that even if the story is good things WILL TAKE TIME, they short into the enthusiasm and cover later.
Which is as expected for every shell company everywhere all the time - until they do something that makes them not a shell.
While I am glad to see that they filed, from a compliance standpoint, no one really expected anything eye-opening.
The 5 minute charts do look similar
If the market really thought those spinoff shares were going to be worth $1.75 per HNRC share HNRC would be trading a lot higher than .37
The mechanics of the lending program put the common into a separate account when the shares are loaned out. While NET I would be flat, I can (and did!) end up with a naked short call option position in my main account.
The lending program is great in IRAs and for any normal trading account in which you don't write covered calls.
Not true. I could get a margin call on the options while the common was fully collateralized in the shadow account.
Maybe because no one cares anymore. VDRM is down so much that many for most of us it lives on "the island of misfit stocks" - not dead, but certainly forgotten.
Here's the problem. I had common shares (not LWLG in this case) and wrote call options against them for income. Covered call position - extremely low risk. However, the fact that the shares were involved in a covered call position did not prevent Schwab from lending them out - on a practical bases this means they moved the common shares to a separate "shadow" account - leaving me with a NAKED short call position (extremely risky, especially on a stock I felt was going to go up eventually, in my main account! This meant that while my common shares were safely in the shadow account, I ran the risk of getting margin calls in my base account if the now-naked short calls moved against me.
In my IRAs, the basic terms of an IRA account, which do not allow naked short call positions, prevented Schwab from lending out the common underlying my covered call positions and creating a naked short position there.
I have several. My IRAs are enrolled in the securities lending program - no problem there. I unenrolled my normal trading account as they lent out shares against which I had written covered calls - creating a naked short position in the calls! That was the last thing I wanted.
My IRAs are enrolled as the basic account structure prevents this naked short call problem from happening there.
I guess I could open up another trading account, enroll it in the lending program, and then move only securities I was willing to lend into it - and also NOT write covered calls in that account. That is kind of a hassle, but might be worth doing.
I am not sure that DBMM "is in the same queue" as the others that have had tier changes recently. The VAST majority of those are foreign issues (xxxxF tickers) that are simply filing financials for the first time. I suspect the process for those may be more automated than that for a stock like DBMM.
I wish Schwab allowed us to sign up for loaning shares security by security. At Schwab, you have to sign up at the account level.
Thanks!
Actually, GASE went FROM Pink Limited (yield) to PINK CURRENT today.
That is from March - we are looking for the numbers for the most recent quarter.
It is a Monday at the open. That was almost certainly a forced sale to meet a margin call. In that case brokers are not required to "market" the order - they just sell at whatever their INTERNAL bid is. They start from the lowest-tier stocks in the customer's portfolio (i.e. otc) and liquidate until the margin requirement is met.
This happens a lot on Mondays. That is why you see otc stocks occasionally open way below the L2 bid on Mondays - they are the first to be liquidated.
There is nothing suspicious about this to me.
The CE has been on for longer, but US brokers started disallowing trading on CE stocks around the end of September 2021 if I recall correctly.
On what planet was that post even the slightest bit coherent?
Gotta love those numbers
Lamboing - the sound made by a baby sheep when it bounces.