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Just confirmed, the only other one that made it off the greys was EDVP. Suspended 3/2013, returned 8/2013. And "that's all folks". (Thanx for refreshing my memory Dog.)
I've only been able to find one in the past 4 and a half years. EMGE. I heard there was another a couple years back, but cannot confirm that. But lets say there have been 2. That's 2 out of approx 2200 since Jan 1 2010. I'd love to be proved wrong, but it ain't going to happen folks.
Which ones have returned?
Well, not long term, but if you can pull off even 10% a day, that's pretty good. Of course, that won't last.
Yea Pete. This thing goes from .10 to .13 daily. Theoretically one could make 30% every day. If you could get the orders filled in a timely manner. Too frustrating for me.
Hey Tri, your post #93125 was a spot on accurate assessment of PHOT's situation. Without dilution, the company cannot survive.
Volume was under a million on Thursday for the first time since the suspension. Volume on this board is drying up along with it.
Well lets see, since Jan 2000, 2 out of approx 2200 suspended stocks sent to the greys have made it back. And neither did well after. That is the reality.
The SEC realizes that suspension is a death sentence. They do not take it lightly. They had a good reason. They're just always vague on their statements. Look at other suspended stocks. The SEC statement is almost the same on all of them.
Exactly. To use an analogy, PHOT has been arrested and sent to jail awaiting trial.
Volume was actually up a little bit this week.
Average daily volume 5 weeks ago 16.1 mil
4 weeks 7.2 mil
3 weeks 2.7 mil
2 weeks 1.5 mil
this past week 1.7 mil
I didn't think the volume would start drying up so fast given the popularity of this stock. It's not even very good for day trading anymore.
Average daily volume 4 weeks ago; 16.1 mil
3 weeks ago; 7.2 mil
2 weeks ago; 2.7 mil
last week; 1.5 mil
Like you said, if you can't sell it, whats it really worth?
Scottrade won't short it. I looked into that right off the bat. Would be a sure thing, but no brokers will facilitate it.
Sorry bout the double post.
Yes, all the weed stock suspensions were in 2014. So it is skewed
Yes, all the weed stock suspensions were in 2014. So it skewed
7 of the recent ones were pot stocks. In general though. They do not recover from suspensions. EMGE did back in 2011 after a year and a half. And there was another one after that. Both did not prosper afterwords though.
Because folks like you get all emotional about the stock. Or they are heavily invested and in denial. Or they think they can flip it for a small quick profit.
Math and statistics don't lie. PHOT is cooked.
Maybe you could explain why only 2 out of over 2000 suspended OTC stocks ever made it off the grey market since 2010? No form 211 will be filed by any MM while an SEC investigation is still pending/ongoing. Just not going to happen folks. It will die on the vine.
It's just doing what all suspended grey stocks do.
Average daily volume 3 weeks ago 15.6 mil.
2 weeks ago 7.2 mil.
Last week 2.7 mil.
This week so far, 1.5 mil.
Why anyone would buy or hold this stock is beyond me. It doesn't have to go down to $.01 or less. When there are no buyers, then what is it really worth? Happens every time. It's amazing to me how many otherwise knowledgeable traders just don't know what happens when a suspended OTC ticker goes to the greys.
Dilution of stock is where Growlife gets most of their operating capitol from. They've never made a profit. If they can't or don't dilute, it's game over. For the company and the stock. Am I wrong on this?
They can still dilute on the greys can't they? Because if not, they will be bankrupt by the end of the year.
"Separate the company from the stock". That is what I think a lot of folks don't get. The company can continue to do business as usual, while their stock dies a slow death on the greys.
Now that was a damn fine post PDTrader. You brought up a couple points I hadn't even thought of. Salute. That's what iHub should be here for!
Yep, 2 out of approx 2000.
That is correct. However, in 2009 EMGE was suspended and re-listed in 2011 after a year and a half. But technically, since Jan 1 2010, only one suspended OTC stock has ever made it off the grey market.
Holding long on a suspended grey market stock is futile. Once the shorts have covered, and I'm sure most have by now, the only buying going on is by folks that just don't know any better. Could be weeks or months, but volume will dry up and you won't be able to sell at any price. Of course this only happens 99.9% of the time, so there's still hope LOL.
Actually there have been two in the past 5 years. EMGE got off the the greys back in 2011 after a year and a half. Still though, 2 out of over 2000 make the odds less than a tenth of one percent. Not um, good.
Faith? Like in god n' stuff? Or Santa? FSPM is going to go the way of all suspended stocks. Slow death on the grey market.
Over 99.9% of suspended stocks that go to grey market never make it off the greys. That, and all the other risks of buying a grey stock is why I never would. OTC stocks are bad enough, but grey market!? Come on man.
It may drop that low at first bell. Then the shorts will be clambering to cover. It will spike up. I'll be selling at around a buck fifty. Those are my thoughts on this.
Damage control is all we can do here.
That is dead on balls accurate!:)
PHOT's suspension was the major catalyst. FSPM's is just icing on the cake. Get out of the whole sector for now. Come back later. IMO
Same same. 7 pot stocks suspended in 3 months. It's over for now folks. Come back later when the massacre is over. The whole sector is tanking. Which one will be next? I'm out.
I made a 30% profit on the run up to $9.20. Bought at $6. Sold at 7.80, then bought again on the way down at $4.50. Thought I was gettin' a good deal ha ha:) Jokes on me now.
Exactly. I knew it was overvalued too, but all the hype ya know? Thought I could make some $. Totally blindsided here.
That one really caught me off guard. I thought they were one of the safer company's. Almost bought a week before the suspension. Dodged a bullet there. Only to be shot in the stomach by FSPM.
Yep. That's why I'm out of all my MJ stocks as of today. (Except FSPM of course). I'll just watch from the sidelines for now. We'll see which ones are still standing at the end of this bloodbath. Then it may be time to get back in.
You absolutely can! Softens the blow a bit:)