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WAMKQ EXPLOSION
continues
Just look at that chart, amazing
Should break $1 today on its run to $25 (face value cash payout)
Lawsuit filed yesterday for it's deposit of $4 billion against JPM
20,000,000 almost locked up now
Moves on air when ask is hit
IMO It is the best deal out there right now and the safest
20,000,000 float, can buy tons more shares than any other preferred at this point for trading and nice payout if get facevalue
It is the most under the radar of all the preferreds and IMO the most affordable
WAMKQ Exploding
WAMKQ Exploding
.80 on ask getting hit, $1+ soon
WAMKQ Exploding
.64 about to get hit
20,000,000 float
http://www.reuters.com/article/marketsNews/idUSN2830912620090428?rpc=44
What a great day for these and WAMKQ
WAMKQ
Great Volume on the Ask
Should break .60 late today or early tomorrow
Sued JPM for $4 billion in deposits
Could be settlement anyday
20,000,000 float being locked up daily
Take a look at 5 day chart
Wait Wait Wait
Pumping?
You have to be kidding me?
People have been in the stock a lot longer than when your little a$$ showed up out of no where
When you don't have an intention to be in a stock, you don't spend countless hours bashing and doing no research on a stock
Now go back into your hole
PEAAAAAAAAAAAAAAAACE
Oh please
Stop the BS
We all told you to buy in the .0008-.0015 range as it was a dip as it has been for the past few years
Your antics are digusting and are shameful
Your sarcasm all these weeks, degrading traders, chartists, people that did real DD
You who never owned the stock were nothing more than a rash
Shameful Shameful Shameful
Glad to know though that your name carries mud on the board
Have a good one
Oh sorry I meant Kicked in the NUTS :)
Because you relentlessly bashed this stock for months
And when News came out, like a 2 year old, tried to make fun of them changing directions
Your antics were awful and continue to be for someone NEVER in the stock
Now, please go onto another stock
thanks
Looks like you are getting kicked in the FACE today
LOL
XHUA Exploding
Question
Since the are suing JPM for the deposit money, would that court date be set soon, since that has to be determined prior to any re-organization plan which is now set for July?
WAMKQ BIIIIIIG NEWS
FYI 20,000,000 FLOAT which continues to be locked up, moves real quick
UPDATE 1-WaMu sues JPMorgan for return of $4 bln deposits
Tue Apr 28, 2009 10:54am EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
Market News
Wall Street up as economic data offset bank worries | Video
Oil eases towards $49 as equities decline
U.S. consumer confidence rises in April
More Business & Investing News... By Emily Chasan
NEW YORK, April 28 (Reuters) - Washington Mutual Inc (WAMUQ.PK) has filed a lawsuit against JPMorgan Chase & Co (JPM.N) seeking the return of more than $4 billion in cash deposits which it lost access to when its bank was sold last year.
Washington Mutual Bank was closed by the U.S. government in September, in the largest bank failure in U.S. history. Its banking assets were sold the same day to JPMorgan for $1.9 billion, and the parent holding company filed for bankruptcy protection a day later.
In a lawsuit filed late Monday in U.S. bankruptcy court in Delaware, WaMu said that JPMorgan has "wrongfully withheld" more than $4 billion in cash that the parent company had on deposit at Washington Mutual Bank at the time of the acquisition.
WaMu said in the lawsuit that JPMorgan improperly claims it acquired the deposits as part of the takeover transaction, when they should have been treated like any other deposit at the bank.
"The cornerstone of the agreement by which JPMC acquired the assets was that all Bank depositors would have immediate and ready access to their cash on deposit," WaMu said in the lawsuit.
WaMu said it needs access to that cash to come up with its Chapter 11 plan, and that by withholding the deposits, JPMorgan could be earning as much as $200 million per year in interest on those deposits.
A JPMorgan Chase spokeswoman in Chicago declined to comment on the lawsuit, saying "we do not comment on ongoing litigation."
The lawsuit was filed as an adversary proceeding to WaMu's main bankruptcy case. The bankruptcy case is In re: Washington Mutual, Inc. U.S. Bankruptcy Court, District of Delaware, No. 08-12229. (Reporting by Emily Chasan, additional reporting by Elinor Comlay, editing by Matthew Lewis)
From the PR, talking about .50
Does that mean that is how much they think it is worth or a trigger price when those preferreds (assuming they are preferreds) can be sold?
Either way, I love that # :)
WAMKQ Breakout
Look at chart this past 5 days, about to break .60
Series K, Trading as WAMKQ
These cannot be converted into common, they can only be redeemed for cash.
Old symbol: WM.PRK, Issued 9-11-06
Outstanding: 20,000,000. Liquidation Value $25.
Interest Paid: Greater of 3 month LIBOR plus .70% or 4%.
Depository shares representing 1/40,000th of floating rate series K non-cumulative preferred stock, no par value.
Series K Perpetual Non-Cumulative Floating Rate Preferred Stock was originally issued at $1,000,000/share. 500 were issued.
SO, 500 x 40,000 = Number Outstanding: 20,000,000.
.60 Ask for the K's
Looks to be on the move today
WAMKQ Continues Uptrend
Trading WAMKQ
These cannot be converted into common, they can only be redeemed for cash.
Outstanding: 20,000,000. Liquidation Value $25.
Interest Paid: Greater of 3 month LIBOR plus .70% or 4%.
Depository shares representing 1/40,000th of floating rate series K non-cumulative preferred stock, no par value.
Series K Perpetual Non-Cumulative Floating Rate Preferred Stock was originally issued at $1,000,000/share. 500 were issued.
SO, 500 x 40,000 = Number Outstanding: 20,000,000.
Great day everyone another green day and new base at .50 (hopefully!) :)
WAMKQ
Check chart and movement it has made in last week.
Great consolidation before next move up to .75 - $1
Any good news can run from $1-$25 (face value
WAMKQ
Check chart and movement it has made in last week.
Great consolidation before next move up to .75 - $1
Any good news can run from $1-$25 (face value pay out on these preferreds)
No problem. Well I have been in the stock for a think maybe a year and 1/2 at least now.
I really like the CEO and company. I just think with the financing issues for small business', the state of the economy, and the area the specialize in, it will be a LONG time until we get back to the levels where I started looking at the company (which was above .01).
Anytime there is news out, it has gone down.
This tells me that the market is unresponsive to anything the company has to say, and the buying pressure needed is just not there, and the company has to sell stock to raise capital (which I don't disparage them for). That is what they need to do.
I think by them also not getting audited financials (putting it off) realllllllllly hurt the stock.
Revenues are coming in, but are no where near all the estimates they gave.
Like I said, understandable because of the economy.
I really lock what they do, I really like the products they make, I like the CEO being responsive and an open door policy, it is just that the actually stock will just be dormant till at least the fall or until the economy turns.
So if you have extra money, worth throwing some nice change at it (however I still believe you can wait until under .0005).
My biggest fear as always in pinkie land is R/S. I have seen dozens of CEO's say it is not happening, and maybe even with good intentions, but then capital becomes and issue and they are forced too, or they get "advice" from attorney's or others, to do it.
So you always have to be preparted to lose all your investment, and you have to only invest what you can or can't lose.
This all is just my opinion and from experience with this stock and many others throughout the last 5 years.
I will buy a boat load at .0003 if CEO guarantees no R/S
I have boat load at .003, so I am long, but looks definitely like we will be dipping down to .0005 or below very soon
That's because the P's have a float of 3,000,000
and K's have a float of 20,000,000
Both of which most of the float has been bought up, so they move on air
Commons there are billions out there and can be easily manipulated
At the end of the day all will do well, but I think the preferreds are the best for the value (especially the K's) in my own opinion.
All the best for WAMU'ers
Great week everyone
.19 - .46 I'll take those kind of gains all the time
Have a great one
We were just teasing :) Don't take it personally
I have been in this at .25 and .50 back in October/November, so I got plenty of time for the big pay day
All the best
I put full blame on him too. Some people are just nascistic and just have the innate need to try and spoil a good day. He should never come up from out his hole again :)
Still a great one though. Record volume in a real long time.
WAMKQ Breakout
Up 106%
Possible run to $1-$25
20,000,000 float. Face value $25
something must have leaked with re-organization planned for tomorrow
WAMKQ Breakout
.49's up
IMO K's are the best deal of all
Only 20,000,000 in float and safest bet, and percentage gain is huge.
41% gain compared to 12.5%
All will do good, but the best trading one for gains and hold for long term.
FYI WAMKQ in breakout mode too
I hope everyone holds there shares, float has almost got to be bought up
$1 is very possible soon, if that is the case
WAMKQ exploding
Breakout in effect to $1 soon
$25 face value
20,000,000 float
Restructuring tomorrow, in court
WAMKQ up 17%
Look at chart
Breakout in action
20,000,000 float
.33 X .34
Looking like we might get to high .30's or more today
Great day everyone
Also in the K's which did great today too.
770% increase in 10 day daily volume
Someone has to know something
770% increase in 10 day daily volume
Someone has to know something
WAMKQ 32% gain
Look for high .30-.45 tomorrow
Buying volume all day
WAMKQ up 47%
20,000,000 float
moving on air, when ask get hits
Could run to $1 soon
Something must be going on, Preferreds have been being bought up since after noon time yesterday
K's are now up to .325 on the ask
was just .17-.19 yesterday morning