#PSS
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First off, your math is wrong. In no way does 33 million times 10 thousand equal 3.3 trillion. For those of us who attended grade school, it's 330 billion. You're off by a factor of 10, how embarrassing. Second, you don't seem to understand how stock splits work when it comes to different classes of shares. There was never 330 billion outstanding shares. Hate to break it to you but that would literally take years to convert through dilution. I had to respond to this because it was one of the most embarrassing posts I've ever read on ihub, which in itself is impressive!
I agree, but that's what the others were referring to. Btw why start a new thread? Just respond directly
You won't be able to see it now that AH is closed but it went to 3.15
True but with a leveraged etf holding for extended periods of time increases risk due to normal decay.
Interesting day here. Not sure what to expect in coming days. It's not as predictable as normal the last few weeks
It certainly could but it needs to get going. These red days when it should be green are concerning.
Reverse split on the 10th though. Be wary of that. Usually doesn't effect these as much but still.
That's why I said thinking. I'm charts, all charts...read the chart and make an assumption. I'm just out so I can't look myself atm.
Fair enough. You thinking today or later in the week?
Every technical signal and every source points to it going up...yet we're down from open. Can't figure it out. Any thoughts?
Nah, unfortunately it doesn't have to be announced. It's rough for the regular shareholder because few people know of that rule.
Oh. Interesting. I wonder how confused he is right now.
Haha you talked to who?
Any theories lilly?
I wouldn't be brokers messing up. Read Nasdaq rule 11140 b 2. And if it was CRGP messing up their financial lawyer is on the hook haha.
Very true. Unless the broker was doing something illegal, which would be highly unlikely.
Again though, they aren't stupid enough not to give a fake reason if it was fake. They could have put out a PR saying the A/S is to buy another mine. Even if it was a lie, it would seem legitimate.
I'm just posting ideas regardless. So are you. 99% of the time a halt is bad that's the closest to a fact we have.
That's the issue I think, a company smart enough with a plan to give out a dividend and make it back by selling shares shouldn't be as stupid to increase the A/S 3 times in a couple weeks and fast track making back money like this. If they did it over a couple months it wouldn't raise very many questions.
I will give you that, Janice, pretty doubtful. I did however, find one case of a stock requesting halt due to naked short selling.
http://www.prnewswire.com/news-releases/introgen-therapeutics-requests-halt-of-trading-of-its-common-stock-on-the-berlin-breman-stock-exchange-71343137.html
Again, it's only one example, if freebies is right that would be awesome but it's undeniably rare for such a thing to happen.
It IS about the dividend?
Or, it could be because it's a day trader's paradise when it comes to volatility. Read this for more understanding, interesting article.
http://www.investopedia.com/ask/answers/05/sharestradedoutstanding.asp
Thanks cheds!
Agreed. The news was saying TSLA was gonna buy them out. It was close, but it was a different company. RIVT was halted because people were buying it thinking it was the other company. RIVT hadn't filed financials in a number of years.
Amen to that sir. Every trader fails once or twice. That's where some give up. I'm on my third strike, but in the last few years I've turned that strike into a home run.
Trading is halted because FINRA has determined that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or has caused or has the potential to cause major disruption to the marketplace and/or significant uncertainty in the settlement and clearance process.
That is the definition of a U3 FINRA halt. Read into it however you would like.
Interesting day here. Looks to be steadying.
You missed one extremely large fact. They paid shares dividends to anyone who held until August 19, so at least 243 million shares. That's about 2.7 million paid out. How did you miss that?
And don't try and use the ex date thing. Cash dividends of more than 25% of the stock's value are subject to Nasdaq rule 11140 b 2. I bought on the 18th, then sold on the 19th. I got paid. Case closed.
Hey let's do this over PM I'm getting flooded haha
You're still confused about my point but whatever. I have read the press releases, I understand the press releases. I make tons of money trading the OTC. I don't have any confusion on what's going on.
You're missing what I'm saying. I know it got to 330. I also know that on about July 24th it was somewhere in the 238 range, so it essentially didn't move in a few weeks.
What, the one containing the date dividends will be paid?
I was referring to the dates between when the TA was gagged and when they announced the progress of the buyback. I think the last number someone had before they said 243 was 238 or something similar.
I apologize, 7.7 million
No way, if it was that high they would have had to pay out 9 million in dividends. There is no possible way they would have done that. Remember, everyone got paid.
They file alternative reporting. Which is accepted by the SEC. Get it together man.
It happens. Anyone remember pmcm? At one point they traded twice their o/s in a day.
It looks like they're basically buying at the same rate of conversions. Which is fine, basically the same as paying off debt in cash. Might be in their agreements that they can't make cash payments, which is why they have to do it this way.
Look, it wasn't a hard post to understand. But yes, there has been dilution, my estimate is that dilution is about the same as the buyback. My guess is O/S around 250 million. Still extremely undervalued.
Market cap currently is somewhere around 1.4 million. It's a tad low. Should be at least 6 million. And btw, people who say a stock can't trade twice its market cap in a day, why not? It's simple, say 50 million shares are flipped twice in a day. That's 200 million. I personally have flipped the same stock 6 times in one day before. Not this one, but it happens.