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Ha, I'd say that's a pretty good return!
Yeah, that's about all I could think of too. I don't get it.
APVTW Have you heard any theories as to why the collapse in the price of the warrants over the last few days? I realize no one can know for sure, just wondering if there are rumors/theories floating around out there
Congrats!
ZAAG Convertible is indeed bad. But not only have I seen this before, there's another one right now. ZAAG CEO John Morgan is also CEO of another company [NICH] that like ZAAG also appears to have a great share structure but it too is very misleading becuz of identical convertible terms to the same Chad Curtis.
Read page 4 here:
https://www.otcmarkets.com/otcapi/company/financial-report/306470/content
lol, hey wait, I thought that skill was exclusively mine! Thanks for the thoughs
Yeah, I felt the same about the quarter (but have the same hatred of China stocks). Any idea what caused the recent plunge? TIA
Any thoughts on WETH filing an offering? They claim to have roughly $50m in cash, and yet want to raise roughly $50m to expand:
https://www.sec.gov/Archives/edgar/data/1826660/000149315221025207/forms-1a.htm
ALTMW - Strike price is $230 exp Nov '23. I called the company and confirmed this. The adjusted strike price reflects a 1-for-20 reverse stock split
ALTMW (.065)- Stumbled across this one and just wanted to alert anyone who may not know, the strike price of the warrants has been adjusted to $230 (after 1-for-20 reverse stock split). Warrants exp Nov '23
I called the company myself and confirmed this.
ALTM stock is around $85
Has the strike price been adjusted? Do you have a link to the exact terms of the warrants?
Yep. Anytime they propose a law to help the little guy, then we're about to get ripped off.
Funny how they always claim laws are "meant to help the little guy" and yet somehow, totally by accident of course, managed to help the big guys. Story gets a little old.
Same way as you do with warrants. If you think the stock price is going up, choose the strike price and expiration that you think is best and if it goes up, you can sell your calls (just like you would sell your warrants), or you could exercise the options and take the shares (but in reality most people don't do this)
The same calculations you're doing for warrants apply to options. There's really not a huge difference from the speculator's perspective.
Warrants v. Options
The underlying mechanics of options and warrants are very much the same (for simplicity's sake, let's stick to just Call options). Either warrants or call options can be exercised at a specific strike price, and you have to pay a premium for either one. Both usually have expiration dates, beyond which they expire worthless.
The big difference, however, is that options involve already existing shares of stock whereas warrants are issued by the company itself, and thus result in dilution.
Companies tried to muddy this difference many years ago when mgt teams issued themselves so-called "employee stock options" and claimed they were not an expense to the company. These should really be referred to as "employee warrants" to distinguish that dilution will occur if/when these are exercised. No dilution occurs when a regular stock option is exercised -- the share of stock simply trades hands from one shareholder to another.
These days I tend to blame the market makers. About a week ago, I had 40,000 shares for sale of a stock that cost $.015 So that's $600 total. On two separate days I got an execution for 1 share of stock at $.0165. A total dollar value of under two cents. The one-minute stock chart showed it never traded at that price all day. I called in and asked them to bust the trade and give the market maker a scolding. They did and it stopped. Otherwise, I could have been charged commissions day after day.
I was the lowest ask and I think market makers were trying to move me off the ask. Seems like every year I'll get a few of those executions.
But this thing with NOVVW, I've never had that happen before. If it's instant execution for my total number of shares, why 30 different fills instead of one? It all filled on the same order, so no extra cost to me. Can't see how anybody benefits. Almost has me a little worried that somebody knows the terms of a coming deal and that the warrants are gonna be canceled or something.
When the Units separate, it's normal for some people to sell off their warrants. And the total volume traded isn't huge. But still I'm stumped as to why so many different fills, all instantaneous, for one order. Why not 3000 filled at the price, rather than 30 fills of 100 shares each. Totally odd. Anyway, back to trading
NOVVW Bought a few this morning and got like 30 executions for 100 shares each. It all filled at the same time - instantly. Can't recall that ever happening before with any security.
MDWK - Has horrific convertible preferred and convertible debt that make the share structure very misleading
OT: Quick Ihub tip. You can currently get back to the old version of Favorites by typing the letter F
F has always been a keyboard shortcut to get to Favorites, but for the time being it takes you back to the old Favorites. I'm guessing this won't last forever, but for now it's nice
The longer I live, the more I tend to think that the entire purpose of govt is to rig markets in the favor of a few
Discovered I had just under 300 orders that were open and got Rejected yesterday. No gotta re-enter all of them. Sheesh, what a waste of time.
It's gonna take me hours to re-enter all those orders. Good lord, what a waste of everyone's time
Etrade - Got home today to find umpteen emails from Etrade and it looks like every single order I had placed (buy or sell) was now Rejected.
The SEC "protecting" me is nothing but a huge pain in the butt.
LMB - I thought the same thing. Seemed like an empty PR just trying to stem the decline
OT: Yikes, that's crazy about Fidelity. Regarding Ihub, also looks to me like the new design will require a lot more scrolling, something we all love.
OT: Ugh. Design change is coming and will be permanent. I went to the Question and Answer Board here on Ihub, and they are indeed rolling out a new design. Seems like each design is less and less user friendly. And usually more space for ads. These dang video ads on every page are annoying as all get out.
OT: Ihub Design Change? Oh no, as I've refreshed my favorites a few times, I'm getting a completely different look to Ihub -- looks like they may be tinkering with another design change. Anyone else seeing this?
Good to know. I wonder why these two videos were "unlisted" on youtube? Why didn't they have them be public?
OT: I just read the same thing and totally bummed that Norm MacDonald has passed away. One of my all time fave lines:
"You know, the more I read about this Hitler fella the more I don't care for him."
Larrybaz, regardless of how this experiment turns out, I find it very educational and thanks for following up with it. I think all of us tend to think "if only I did this and this I bet I'd make a ton!" but very often we're only remembering the positive outcomes and discarding the bad ones. It's rare to get to see a realtime experiment with real money.
I did something similar a few years ago when we still had to pay commissions. Had a totally mechanical system that looked great on paper. But when you factor in commissions, slippage, executions that didn't happen even though it looked like they should have on the chart, etc, etc, and it didn't work out nearly as planned. I only used about 20 grand and ended up about flat after all was said and done. So pretty similar.
Congrats on getting over the rona. And go for it! I'm asking around as well and hitting up a few people, so I'm trying also. No luck so far.
I would think the other question regarding the answer you got about the full service broker is . . . is this answer actually true?
I know that's what you were told, and it may indeed work that way. But it may also just have been something they've been coached to tell people. An "answer" that gets you off their phone and onto someone else's.
I know when I filled out my broker paperwork, two of the questions were 1) Are you affiliated with any public company? 2) Are you an insider?
So in a way, the answer they gave you kind of doesn't make sense also, because I know my broker already asked those questions. Seems like they've already got that info.
The other answer I've heard regarding buying CE/Grey etc is that you have to be an institution, not just an individual, because then a much higher level of sophistication is assumed . . . or some such nonsense. That's also the answer I got several years ago when TD Ameritrade started not letting me buy certain stocks. I went looking to all those broker dealers (all the four letter symbols that you see on Level 2) and I must have called 20-25 and they all said we don't deal with individuals, and they couldn't refer me to anyone.
That may all be different now but until someone actually does it and makes some trades and finds out if it's actually real and practical, I still put it in the "rumor" category.
Thank you
haha, you must have posted a second before me because I had the same question
Mind sharing which broker allowed the buy? Or did you have a gtc buy order in before they stopped allowing new buy orders?
Interesting, thanks
Or one of those newfangled electric typewriters.
Re Ameritrade reorg fees. For what it's worth, they've been charging me those for years. So either those were always there and you're just experiencing/noticing them for the first time, OR you've had a much better deal with them than I've had. lol
At any rate, reorg fees have always annoyed me. You're usually already getting killed on the trade, then the company does something that I had nothing to do with . . .and I have to pay fees for the privilege? Ugh
Yep, and it's certainly good that the convertible is out of the way. Just gotta hope they are honest and don't do any more convertibles.
If they do, then they are flat out untrustworthy, imo.
I just didn't think the Q was perfect. Earnings should have been much lower in the Q because of dilution, except they claimed a "technicality":
"In June 2021, the holders, with the exception of the Company’s former senior lender, converted $4.805 million of the convertible
notes. Due to a technicality the underlying common stock was not issued until August 12, 2021."