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It's called "making money."
As I stated a couple of weeks from the SEC website, it is legal for a company to extend trading under their stock symbol if traders want to buy and sell even after the company has gone through a BK.
James
ARIOQ - a good time to buy this stock
Ask size has been shrinking as more and more buyers have come alongside investors. Most recent ask size is 273M. Price is at rock bottom, a great time for bottom feeders to catch it. Coming out of BK, Amerisource can only go up with all its creditors paid off and happy.
James
Yes, Robbins said the shares would be canceled.
James
Ranger7
Be sure to read my post before this one. The SEC has finally answered the question people on this board have been asking for more than a year. The long and the short is that this stock is not worthless and will continue to trade indefinitely as long as traders want to buy and sell. AmeriResource has allowed this by not pulling the symbol.
James
Here is why it is still trading.
This comes right from the link the SEC provided,
"The SEC does not have a rule that prohibits the trading of stock once a company becomes defunct because it does not want to forbid transactions between willing buyers and sellers, including those holding shares in defunct companies." This comes from this link: https://www.sec.gov/fast-answers/answersdfnctcohtm.html.
The bottom line right from the SEC is that a company can still allow its stock symbol to be active and so allow buying or selling of its shares. If investors want to buy some, "have at it."
There is nothing more to wonder or discuss. The SEC's response is final (above). So watch that ask size continue to shrink and one day soon it may have a bid and the stock could soar.
James
So a year isn't long enough for that to happen?
FINRA knows.
James
Do you know how long that has been said?
It has been nearly a year that this board has been waiting for Hofmeister to notify FINRA. Hofmeister is not the missing link.
James
I was out a couple of days ago.
NETE simply died. Good thing. It dropped significantly and then a reverse split kicked in. That begs for shorts to kill it. If you haven't done so, I would get out as quick as I could.
James
Remains to be seen
When the bid comes up to >0 and someone sells and transfer it into their account, it will be real dollars. FINRA would not allow investors buy 45M shares of worthless stock. They would have notified the SEC and blocked all trades. Didn't happen. The symbol is still alive and well. Just wait until the bid comes up.
James
Think about it 1manband.
This is what you wrote, "Only the ticker remains. Do not confuse the shares with the trading ticker - they are not the same thing." That makes no sense. My TDAmeritrade broker account asks me what the ticker symbol is. If I put in ARIOQ then I can purchase shares of that ticker symbol. Under ARIOQ, trading can still go on. I know, I tried it with my broker.
James
Ranger7 - thanks so much
I wish I had private message capability but I don't. Since June 1, there has been 45,903,638 shares bought and sold.
https://finance.yahoo.com/quote/ARIOQ/history?p=ARIOQ
Again, the ask size has dropped substantially and makes sense in light of the volume of trades (few trades were sells in light of 0.0 bid). Probably some moderator (which I used to be) should run a test. They should buy 100,000 shares for 10 bucks @ 0.0001 and then sell them. If the trades all appear in his or her private brokerage account, then the symbol is valid and the stock is still trading. But it would have to be done by a credible person who has no bias in all this.
James
Ranger7
As you know, it has been a while since posting. I noticed that 2M shares were traded today and in the summer one day had 16M. I also noticed that the Ask has dropped to 286M. Can you tell me what is up with this stock? Has anybody got it figured out in the past several weeks. As you know, the same message is on the message board page that all shares will be "terminated" but they aren't yet. What gives here?
James
We are staring @ $7 and yet ...
... there is another hour and a half to trade.
James
THe AH desk is not showing their full hand.
Rest assured, there are many blocks of shares available. They just aren't showing us all their hand.
James
It is likely the 12th
It depends when they sent off the letter. If it was on the 21st of the month (Sept), then it would the the 11th. Investors better get that nailed down or be caught with a RS on their hand.
James
Two spikes just hit!
One about 500K shares and the other 550K shares.
James
Hard to know where go get off the train.
With 7.1M share of float and volume at 56M, who knows what is going on. Obviously the volume includes lot of shorting and sellers. But it seems to me with such a low float that this stock will literally spike at one point. Can anyone appreciate what I am saying? I mean, if it spikes, it could go to $10-15 per share.
James
Hard to know what is happening.
The RS will probably happen in two weeks. For there to be light trading yesterday and no covering but more selling off doesn't fit the pattern for what lies ahead.
James
I like that.
Desperately sick people should have that option provided it will not harm them (as the bill states).
James
Caught this late.
I would have thought closing >0.90 and <0.92. The question now is how will the market respond to NETE today? Yesterday's volume was "light" with 2M traded but the stock still went up after languishing in the low 0.8s.
Perhaps this table sheds some light on things,
Date Open High Low Close* Adj Close** Volume
Oct 02, 2017 0.88 0.93 0.80 0.90 0.90 2,487,600
Sep 29, 2017 0.84 1.00 0.72 0.85 0.85 5,848,600
Sep 28, 2017 1.00 1.01 0.78 0.80 0.80 3,460,100
Sep 27, 2017 0.91 1.10 0.84 1.00 1.00 12,352,900
Sep 26, 2017 0.60 0.94 0.60 0.86 0.86 13,456,500
Sep 25, 2017 0.70 0.70 0.56 0.60 0.60 3,367,300
Sep 22, 2017 0.52 0.76 0.50 0.72 0.72 6,804,900
Sep 21, 2017 0.55 0.55 0.48 0.50 0.50 643,900
Sep 20, 2017 0.62 0.62 0.52 0.56 0.56 1,030,500
Sep 19, 2017 0.72 0.72 0.55 0.58 0.58 2,633,100
Sep 18, 2017 0.55 0.81 0.55 0.63 0.63 8,701,900
Probably for the best
From the messages I have received and what I have experienced, there has been a lot of money lost and a lot of dreams ruined on DCTH. There are more dreamers still on board that may never see a payday.
James
It won't. Never will.
But trading activity leading up to that RS could if shorts are squeezed, institutional holders buy to raise the price before selling after the RS and daily traders piggybacking off of shorts covering and institutional holders running the price up. All possible scenarios in play.
James
It just got relisted.
It is DCTH. There have been so many angles to this stock as the BOD voluntarily had it delisted from the NASDAQ. Now investors are waiting to cash in big time with the anticipated reverse split that the BOD forced on investors. They as well as myself are anticipating a big short squeeze.
James
You would think so.
With the high trading volume of the stock, substantial increase in price and most of all a high level of shorting (about 60%), the shorts have to begin covering.
The recent 13-week high is $1.10. If that is broken through in the next day or so (failure to do could lead to a retracement*), then shorts will begin to cover rapidly.
This week could be the week of great gains!
James
*there is a 32.8% chance of retracement
https://www.barchart.com/stocks/quotes/NETE/cheat-sheet
Good to know
I don't know recall how long a company has to report its quarterly earnings, but if you are right about company profitability than that will trigger an avalanche of new investors. I believe a company has within 45 days of the close of a quarter to report its earnings but I could be wrong on that.
There is a huge inside investor RAKISHEV KENGES who owns nearly two million shares as of August. The other insiders own small blocks. I don't know who Kenges is, but perhaps he is on the BOD.
I have been flitting about between this stock and another as both seem to have a bright future in terms of stock growth. The other retracted Friday and may do so for a bit, so I will just sit tight and see where NETE goes.
James
Shorting of NETE
The stock has been highly shorted as be seen by this table. More than half and just less than 2/3rds of all shares traded have been shorted.
http://nakedshortreport.com/?index=NETE
Date %Short
9/29/17 59.9
9/28/17 56.5
9/27/17 56.9
9/26/17 61.2
9/25/17 59.3
9/22/17 58.5
9/21/17 67.2
9/20/17 57.5
9/19/17 61.2
9/18/17 63.4
9/15/17 53.1
9/14/17 66.0
9/13/17 59.4
9/12/17 39.0
9/11/17 69.6
9/8/17 55.1
9/7/17 42.3
9/6/17 67.3
9/5/17 52.5
9/1/17 80.1
After the multiple pushes the last few days...
... I will be expecting it to clearly break through the $1 level on Monday. I got in at 0.73, saw it pull back and come back with a vengeance. Premarket will set the tone for the first half hour of the regular session. No one can figure what is driving the volume and price. A few say "buyout" but that is always circulating.
Prior to Sept 13, the stock's volume was a few hundred thousand shares. Now it is in the millions. Greatly increased volume at more than double the normal price per share typically means investors believe something is coming, something real good. It could be anything from an anticipated good earnings report to a buyout. This might be shown by increased institutional holdings but that is NOT the case. Some sold off in May.
https://fintel.io/so/us/nete
I would say, whatever it is, we will all know. But until it happens, the overall upward trend of volume and price will continue. In the last 2-1/2 weeks, the stock has nearly tripled in price. So let the same anticipation keep up. By mid-October at this rate, the stock will be trading at nearly $3 per share!
James
Recently, DCTH top ten in shorted stocks.
http://247wallst.com/investing/2017/09/13/the-6-most-shorted-nasdaq-stocks-apple-comcast-on-the-rise/2/
Now that it is delisted, this information would not be easily available.
James
Shorting
When a trader shorts a stock, your broker sells shares that you do not own. You short or trade at the ask price.
When the trader then covers, your broker is buying back those same shares. You cover or trade at the bid price.
For example, if I short 100 shares of IBM and the bid/ask prices are $1.00 x $1.05, my shares sold from my broker are done so @ $1.00 (the bid price), pushing the stock price down as shorting always does. When I cover, my broker buys back the shares @ 1.05 the ask price, pushing the price up.
I have only shorted stocks very few times. It is always disconcerting to me when it is time to cover that it is done at the highest price, the ask price. But in the whole process my broker is buying back (at the ask price) what I had sold (shorted at the bid price).
I hope that helps. To the novice (not that you are a novice) just starting to trade and has only bought and sold at the ask and bid, shorting can be quite confusing as to how it works. This is how Joseph P. Kennedy, the father of President John Kennedy made his fortune. He had shorted his portfolio just before the Oct 1929 crash. When he covered, he made millions while others who had bought in jumped out of windows because they couldn't handle the anguish of losing so much.
Oh, you have to have a certain minimum balance in your account to short. Anything less than that and your broker will not let you short; whereas buying shares does not require a portfolio minimum.
James
About the date of the RS, Toro
I don't think you need to worry about tomorrow being the day before the RS on Monday. Read this below.
"As disclosed in our Schedule 14C Information Statement filed with the SEC yesterday, a consent in lieu of a special stockholders meeting was signed by two of our shareholders today to authorize our Board to effect a reverse stock split at either 1:50, 1:100 or, 1:350, at the discretion of the Board of Directors. As with our prior proposals, the ratio range is intended to provide the Board with maximum flexibility to address limits on the Company’s access to capital. This vote will be effective, and the Board will be able to approve the reverse stock split once 20 calendar days have elapsed from the date of mailing of our Schedule 14C Information Statement to our shareholders."
The "date of mailing" from my understanding is either Sept 21 (when filed with the SEC) or Sept 22, the date of this announcement. That would put the RS going into effect either Oct 11 or Oct 12, most likely the 12th.
I totally agree with what you followed up with when to buy in, at the highest price if you were going to short. The short trader would then experience the largest drop in price (unless buyers came in and raised the stock price of course).
James
Oct 12
James
Yes, no major covering at this level.
One spike occurred all day and that was about 12:15, a buy. It was over a million shares and that drove the trend up until after 1:00. From then on, the stock languished or retreated until a slight rally starting about 1:15. In short, there was not enough covering at this level to continue a strong uptrend.
Perhaps tomorrow.
James
Good sign for the day.
Traders are standing in a big line to buy. If LVII is accurate, 50M shares are on the bid to buy in for the next two tiers. That is very good. That means we who own shares are on the right side of the track, now.
James
So true.
I think because the blocks of shares are so small, the shorts are being savvy. They are waiting for the best time to cover. They may be thinking it will pull back because of light trading. If it continues to move up as it has, though slowly, watch for sudden big blocks of buys from covering.
James
A likely scenario for shorts that are covering.
The bulk of it will probably happen each day within the first hour of trading when the price is the lowest. Covering then will yield the short his biggest return for the day if he anticipates the price to continue to climb. Of course, from what I have observed, shorts will be covering throughout the day but just in smaller blocks.
James
Thanks, good to hear.
I try to help others along with myself understand what is happening with this stock. And for those who are wondering if they should get in or not, I am hoping from what I posted this morning that they will. I believe this is the right time to be in.
James
Up in Germany
http://www.ariva.de/delcath_systems-aktie/kurs
Several exchanges show strong changes in price, from 10-22%.
James
Four drivers pushing stock price up now
1) Shorts covering - from the huge spikes of shorting activity as well as smaller shorting activity recently. This shorting accounted for more than 40% of all trading activity for the past several weeks and will be covered each day as the RS approaches.
2) Institutional holders - some or all of these holders must buy more shares to help raise the price up to reduce their losses when the RS hits. There are to date 26 institutional holders that own 39.7M shares worth $7.8M. Look for Hudson Bay and Renaissance to be the main players who combined own 30.1M shares of the total 39.7M shares to be buying up shares. They cannot sell at these horribly low prices right now. They must get the price up much higher.
3) Longs - if these investors want to average down their losses by buying additional shares, then they will need to do so before the RS hits.
4) Daily traders - with the first three drivers pushing up the stock, traders will come along for the ride and buy in as short term holders. This group may not even know why they are buying in except by the fact the stock price keeps going up and they don't want to miss out. As the price continues to rise, this group could outweigh the percent of all traders to make quick profits and will grow more in trading volume each day.
These four drivers will continue to push up the price each day in a dramatic way as we near the RS at least until the stock hits about $0.20. At this price level, the percentage of covering will be greatly reduced and will have been tapering off. From then on, the last three groups will be the dominating drivers. With all this activity, the stock could spike up on a given day in anticipation of the RS becoming active.
James
This gain today will not go unnoticed.
DCTH has been on the radar for months. With stock coming out of the basement two days ago, trading flat yesterday and rising 16% today, only an uptrend is what lies ahead for the stock price.
Only 20M shares were exchanged today. But that will intensify tomorrow and each day that follows. At a 16% gain for each of the next two days, the stock would be valued at $0.86. However, trading doesn't work that way as most here if not all here know. We should expect volume to likely double tomorrow, or more, and the price rising substantially more than 16%.
It is possible by the close on Friday to be above $0.10 per share, perhaps even much higher.
James
Wrong, that is not why SP is at 0.06
It is because Simpson kept issuing news flashes to drive the price down. Anyone who has followed this stock for the last couple of weeks knows exactly what I am saying.
But that stock price is changing very quickly, up.
James