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Hard to swallow
The latest news says "We negotiated this agreement as a means of reducing future potential dilution from the Convertible Notes after a reverse stock split." To me, that is a lie. Any investor knows that a RS immediately triggers dilution.
James
How can Simpson lose?
Unless, of course, the RS doest not go through. And that is her fear.
James
Stock just pulled back.
Lucky to close @ 0.1250. More like 0.1230. Weak buyers.
James
Just can't muster enough buying pressure.
I have been watching LII on and off today and that sums up why the stock cannot move up. When the price begins to move up and takes a long time to sell a block at the next price level, a lower priced seller comes in weary of waiting and sells a large block at a lower price.
Until serious buying pressure happens, the price will remain the same with minor fluctuations.
This day was going to be more active due to the Aug 28 deadline of voter count. Now that that has been pushed off to Sept 7, then the early part of next week could be like today.
James
Traders playing with 0.1218 most of the morning.
Can't seem to apply enough buying pressure to bust through 0.1220. Until then happens, investors will keep playing with 0.1218 on the ask.
James
Yes, very tight pivot points - unusual
https://www.barchart.com/stocks/quotes/DCTH/cheat-sheet
1st resistance point: 0.13
Last trade: 0.12
1st support point: 0.11
Tight band of pivot points works both ways. Could drop quickly or could ramp up quickly. Volume is significant right now. Low volume will lead to a greater chance of stock price dropping. Higher volume than yesterday should trigger an uptrend.
James
Crazy trading patterns today
I have watched off an on throughout the morning as huge, huge blocks of shares have been sold. And, I have seen large blocks of shares bought. We are still up for today through all this, about 3%. But, it remains to be seen how this pattern of trading ends up. If the stock can blow through the day high (0.1279) then it will keep going. If the stock can maintain the current price, then AH should be up leading to a higher premarket.
James
I read all posts - but one
You make a strong case for a merger. There is certainly an explanation for this "quiet" period of no news. It is all over stocktwits.com. It would seem they are in negotiations, either for a merger or a buyout. Like so many have said on this board, the BoD would prefer a RS to soften their lives, but if it is keeping the company or losing it, then they will negotiate some deal with an outside company.
James
Shorting of DCTH
I have been studying the shorting practices of traders with DCTH. There is going on each day legal shorting and illegal shorting (called naked shorting) of this stock.
http://nakedshortreport.com/?index=DCTH
We, of course, are not alone. Below are all the shorting activities of every listed stock on the NASDAQ Aug 23.
http://regsho.finra.org/FNSQshvol20170823.txt
In yesterday's DCTH trading,
Total volume was 36,223,700 shares exchanged
Total shorting (legal and naked) was 15,160,554 shares
Total naked shortinng was 6,473,751 shares
Total legal shorting was 8,686,803 shares
Of total trading yesterday,
Total shorting was 41.9% of all trades
Total legal shorting was 24.0%
Total illegal (naked) shorting was 17.9%
So 1 of every 4 shares was shorted and about 1 of every 6 trades was naked shorted. Stops to make you think what the market is really doinng. Naked shorting dropped of 20% yesterday from the day before, explaining why we saw little drop in price.
James
Volume is the signal.
Lighter volume in AH. Light volume in the regular session yesterday. Near non-existence volume in premarket. That coupled with 7.5% drop in yesterday's price all signal a down market today.
Unless, of course, some news breaks. Then we ramp up all over again.
James
It is incredible how fast the stock dropped in price. The company's negligence in all this as you have so pointed out is far less than inexcusable. They (BoD) should be horse-whipped.
The driver for many including myself is the noble medical efforts to fight liver cancer. If the shareholders would not have their investments diluted and the company could get a sound financial footing without delistment (big ifs I know), then shareholders would be cheering on the medical efforts of this company while new investors come aboard.
James
I disagree. The delisting notice has been out there for days (I believe Aug 15). That Simpson is desperate for RS as seen by offering a chance to change votes tells me the RS is doomed, a plus for the investor at the present time. So yesterday's activity I see reflected the sommewhat, implied good news.
James
For today, yes, investors are hanging onto their shares, but the price is droppiing. I believe that is due to the fact the ether has worn off and the future of the company is now uncertain.
Mild, downward trend all day.
Past 3:00 could be another story. Evidently, the news that came out yesterday does not settle right with investors. Very light volume in AH and light volume until the last half hour of premarket signaled a change was about to take place in investment interest. Sure enough, volume is "light" and stock is down nearly 7%. Push the RS tally beyond Aug 28 lessens the anticipation of how many NOs and Yeses there will be. That, coupled with the news yesterday has probably dampened investment interest, at least for today.
James
The letter I saw was dated Aug 21.
That means they would have until the 28th to appeal.
James
As of June 30 (10Q), they have $1.8M in cash.
James
SAMNOTSAMUEL
Much of what you are saying is true. I have experienced the latter half you mentioned. However, when a stock is delisted the typical pattern it is an OTCBB stock (over the counter bulletin board) with the symbol being the same but ending in .OB. To my knowledge, because the symbol is unchanged, the outstanding shares remain equal in value as before the delisting. The next step would becoming a pink sheet. Even then, I believe the value of the outstanding shares is intact.
But your main concern for bankruptcy is premature. Much can happen before that happens, much. A partner could come forth or a buyout or the BOD could just decide to sell the company, differing from a buyout. With the medical accomplishments and future of DCTH still bright, one of these could very well be a strong possibility if not a certainty.
James
No, I don't know what you are talking about.
James
If this were happening in regular session, I would be concerned.
If this degree (level) of trading was in regular session, I would say we are about to see a pullback. But seeing it is in extended hours, it does not indicate the price is about to drop. I think there is a waning interest in the stock. It probably means today's volume will be below average but still at a healthy level.
Expect little movement in premarket but significant upward levels will once again create strong after hours.
James
Anybody asking themselves about extended trading?
Did you notice last night very few shares traded in AH? Did you notice only 729 shares traded in premarket so far? And 500 were added by a trader just to get it going on stocktwits.com.
Is it true - no news plus no volume = trouble? I have seen that before.
James
AH trading awfully light. What gives?
Only about 140K shares exchanged as of 15 minutes ago. Yet, during the regular session, 75M shares were traded. Though 75M is below average, it is still sizeable. Seems flat-line AH suggests traders don't know if to buy or sell or hold. And where does that come from? Perhaps investors didn't expect, at all, the news that came out this morning. So, could the AH traders be saying, "Is DCTH a good deal or a bad deal? Not sure"
James
About to test 0.1300.
If we can blow through that in the next 14 minutes, then that will further set the stage for a strong AH and premarket tomorrow morning.
James
Go-Gold
I see you're still around. I recall you bought a bunch in the 0.9s range. Any take on where this is all heading? From the latest news, is it obvious the RS is not going to happen?
James
Lookin' good.
@ 0.1266 and moving up. Trying to uptrend to break through that elusive 0.1300.
James
Bounced off low price - good stuff
After coming off a day high of 0.1389, we dropped to 0.1225 @ 10:32 AM. If we break through that, we could have expected strong declines. That didn't happen. But just now we near tested 0.1225, dropping to 0.1030 @ 2:00. With the latest price 0.1237, we should now be seeing an uptrend that will hopefully test and break through 0.13. If the price retraces and breaks through 0.1030 it could be a declining afternoon.
I am optimistic.
James
We clearly break through .1300 we'll be off and runnin'.
It has tried a couple of times but has not been able to sustain it. This time should do it, very soon.
James
Looks like RS is failing. Good.
http://ih.advfn.com/p.php?pid=nmona&article=75494419
James
How do you figure?
It would seem to me the 8K implies Simpson would release premature voting results that support a RS.
James
A stay of suspension is in place.
NASDAQ listing service has stayed a suspension of delisting DCTH to hear arguments from DCTH why the stock should not be delisted from NASDAQ. It will be at this time that Simpson will likely tip her hat as to the future of the company, i.e. buyout, partner, BK or RS.
How a buyout or partnership could guarantee compliance to NASDAQ requirements in pushing the stock price over $1 makes no sense. Simpson's justification for continued NASDAQ listing would seem to be she anticipates a RS. That can be the only guarantee of compliance with a 200:1 or 500:1 dilution of stock by inflating the stock price. How a BK could guarantee to bring the stock over $1 again makes no sense. All that would do would be to protect the assets of the company.
James
Crapshoot anyone?
Having read all the posts here and on stockwits.com, it is clear that some think DCTH will tank and others, it will go to the moon. One thing is sure: someone is right. It will not flat-line in the next week or so.
If someone believes in the company effort to defeat cancer, then that is a strong case to hold or to buy. If the company has signficant revenue, then hold or buy (and it does, $584K 2nd qrtr as of 6/30/17). If it has solid cash reserves, then hold or buy (and it does, $1.8M as of 6/30/17).
Finally, if you believe the stock will not be diluted from a NO on RS, then your investment dollars are sound right now and hold or buy. Is a buyout possible? Yes. Could there be a partner? Yes. Is a BK likely? No.
For the long term and short term, there is more of a reason to buy or hold than sell.
The BOD can be dealt with later.
James
Better buy now.
It only is pricier in premarket tomorrow! Recovery was good tonight.
James
If there was a partner in the wings, DCTH would.
A partner who could help with debt would certainly want DCTH still NASDAQ listed. A certainly sound reason to appeal, if that is the case.
James
I wasn't here for that.
International sentiment and success in clinical trials tells me this stock will not go belly up. I have invested in stocks much, much worse in value that were financially pulling themselves up and continuing, for decades!
James
I don't believe it will come to a BK.
There is too much potential in this company with its medical investements. Someone will buy the company out and partner with DCTH.
James
Javier1973
Right now, if anyone was honest with you, no one is sure about anything regarding DCTH.
James
It has to be legally binding.
Bankruptcy procedures must be filed that accounts for liquidation of existing assets and which ones can be retained. Once filed, the filing has to be approved and a court date is set. Once the judge approves of the filing for bankruptcy, there could be a time set before it is effective. No, it is not simply issuing a public statement saying DCTH is filing for bankruptcy. Laws are in place to protect the company until it can be approved. That is my limited experience with companies I have invested in who have gone BK.
James
I currently own shares in a company who has gone bankrupt, the stock was supposed to be de-listed and shareholders given nothing but it still trades and investors are making money. A BK can be quite complicated.
BK doesn't work that way.
You should know that. There are filings for bankruptcy, a court date has to be set and then the bankruptcy is approved. That is much longer than 30 days. The BOD would first have to approve it.
James
There is always another interest but the shareholders.
A RS is good for the reasons you said. Then there is the financial solvency to consider that justifies a RS. To all this I say, "bull.
Any one who has trading experience knows their investment will be so diluted that it will be worth nothing. A RS is not an option. Never has and never will be one.
The best thing for the company's shareholders is drop the RS option and sell to the highest bidder. There has to be company's with this much potential in the medical industry. If that means the BOD has to be liquidated, sobeit. They created this problem. Own it now.
The priority should be shareholders and company, in that order. Without shareholders, there would be no DCTH.
James
That would be interesting to know, granted.
However, if the shorts bailed (covered) then the price would have gone up, not down. The stock perhaps was overbought. It ran hard from 0.10 to 0.24 over three days (including premarkets). I should not have been surprised on the pullback. Possibly the only way to sustain more price growth was good news coming out. When it dropped to 0.20, that was the signal profit-takers were selling out.
James
If a NO vote, that is a negative to the BOD (not to me and others)
Companies don't like reporting negative news. The BOD will have to come up with another plan to handle funding of the company, i.e. partnership, loans, buyout, etc. I can see this NO vote delay in being announced from a few days to even a few weeks. Perhaps DCTH has a suitor on the sidelines and the BOD will make final arrangements for a buyout or partnership. That could take a few days to a couple of weeks to finally agree to and make legally binding. I have seen negative news (in this case, to the BOD) been delayed before. This would not be the first time or the last time, for sure.
James
I am buying more on Monday first thing.
However, like I said, I may be bailing Aug 25 in anticipation of the news of an announcement on the 28th. And that opens up a question whether an annoucement is made the 28th or not. If the vote is NO, there could be an indefinite delay. If there is a YES in alignment with the BOD, then I would think the 28th would be issued an announcement.
James