Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
lots of people will be selling this for tax loss. Why wouldn't they?
.038 is the low so far. MAXM backed up but he does that sometimes. Leaves for a coffee break and comes back slamming the bids again.
back to scheduled programming again today. -30% in 30 minutes
How you been? Man what a crazy market. Haven't bothered to look to swing short anything for awhile but thinking to start looking at some options soon.
One of those rare cases when a -10% for the day feels like a huge victory? lol Simply amazing. Volume has been good but have to factor lower prices. $ volume has stayed fairly similar.
they have sold 30M shares not 48M for one. $10,562,425 worth of notes at 82% discount is about $12,881,000. Even if they paid back $8.2M(which they haven't) you looking at $4.68M still needed. At .05 thats nearly 100,000,000 shares.
More than likely they have paid back about $6M or less. Doubt they can find enough buyers to dump 100-150M shares .05. At .025 they will need double the shares. OS will likely increase another 200-300M by the time they finish and assuming they don't need to do a reverse split.
No he is not done. He just needed to change the ink in the printing room.
He is talking about a note holder that company owes $11,000,000. Company started issuing shares(at 82% discount to price) to pay the debt back. There is about $13,000,000 worth of shares being sold. They should be about half way done.
yeah it is holding up down here a bit better than last 3 weeks. Maybe they are trying to slow down a little to avoid having to do another split. One downside is the slower it drops here the more people will be in at these prices which would make it way thicker on way up.
it was going thermonuclear at $1 according to you. At this rate you wont even be able to cover commissions with proceeds when you decide to sell. I guess you were right, it was a huge blow up. Very Fukushima like.
There has to be over $5 mil debt left. Volume is still very low and if it goes any lower there won't be enough shares to finish off note holder. Wonder if they'll have to reverse split again.
Speak for yourself. Others prefer to EARN their money and average down at 692 price points first.
yes, got to earn your money. Its no fun getting into trades and getting easy green right away. 99% down first makes it feel like you worked for it and deserve it.
But hey! REST EASY!!!!!! 99% down is nothing. Nothing 100 bagger can't fix. Its much more rewarding catching 100 bagger to get even than turn 1k into 100k.
Its not a loss until I sell! OH! There is news coming at SOME point! This will BOUNCE!
True... Very True... But if you like making money.....
don't need whole life story. You could of just said "DO NOT LISTEN TO ME OR FOLLOW ME INTO TRADES. I AM HAPPY AND FINE LOSING 99% IN EXCELLENT INVESTMENTS!"
hah yup. What was that one stock that went like $3,000,000 to $1 in a year or two? lol This is a death spiral just like it and its amazing people think averaging down is the way to go.
MAXM just brutal. out of 50 sell attempts filled 500 shares so far on ask. every time i try to sell he wacks bids and goes lower. this has TURD written all over the forehead.
amazingly stuff like this is totally legal. print shares and sell away. must be nice for the company and the note holder thats making millions while shareholders get slaughtered.
tried to wack bids no go. now bag holder just like you lol
nibbled for chit and giggles 25k .155 put for sale .165 and all hell breaking loose. this ain't going nowhere
depends what happens to the OS. shareholder shares get split but insiders a lot of times don't.
good one! My first red day in weeks. Thanks for lightening up the mood over here.
yeah thats where they pull an RS on you to get market cap right back up to healthy levels.
I am not worried about it. You keep telling me not to worry at $1 .7 .5 .4 .3 .2 .15. See a pattern yet?
yep. I am sure it will pull a 500% move or something once note seller is done. Question is if its from .01 .02 or .05. $ volume is pretty small here and already nearing .10. Was thinking .05 for bottom but it may go much lower than that.
yeah progress. Stock down to .15s and nearly 50% down intraday again. Keep putting the lipstick on the pig.
debt was actually 11m and debt holder is getting shares at DISCOUNT. So there is considerably more than $11,000,000 worth of shares getting sold.
market cap is irrelevant when note holder is selling at ANY price to get his money back that he borrowed to the company.
Thats an old school pumper trick, talking people into putting shares way higher for sale so promo guys have no competition selling their free shares.
Rather than worrying about shorts maybe worry about note holder that has half that $13,000,000 note left to sell. There is at least 100,000,000 more shares coming into market at the rate they dumping. Likely more than that as the lower the price the more shares it will take.
why would you even consider buying at this point? Still millions left on the note and they will just keep selling lower and lower until its done. Patience is a virtue! Wait for seller to finish up. No need to piss into the wind with early buys.
forget the shorters. this is getting diluted. company is just creating shares out of thin air running their printing press non-stop and you guys are whining about shorts. Give it a break.
well in this market most are up huge so many are looking to sell losers to offset income. Its not a secret most stocks that are down big for the year usually tank last couple months of the year too and tend to bounce jan/feb.
Also after 30 days you can rebuy and avoid the wash sale rule. So say you make $45k a year and live in IL. You bought 4k DCTHD at $2. Your 8k investment is down to $720. You sell the 8k .18. Get $720. + with fed and state taxes get 30% back. Which .6 x 4k shares. $2400 more. So now instead of $720 you got $3120. Unless you a complete moron you would sell for tax loss. And likely this is .05 in a month and with your $3120 you can buy 60,000+ shares instead of holding your 4,000 like an idiot.
True. But most make at least 37k a year right? Thats 25% fed tax + 5% or so state tax for most. So thats 30% "refund" on your loss. Even if you were "lucky" to buy at $1 avg selling here at .18 you get 18% of your investment back and 30% on your .82 loss which is 24 cents or so. So you get .42 back. With stock trading at .18 getting .42 is a freaking deal. Never mind many are stuck at $2 $3 $5 etc.
some places there is 10-12% state tax. Fed top bracket is 39.3%. Even with just 200k income single filers hit 33% bracket. I wasn't even referencing worst case tax scenario.
another RS is definitely not out the question at the rate they are selling. Would actually make for a better set up. Blow out rest of the note after RS and current holders would be down 99sh%. Would have way less sellers on way up. Too many bag holders here now into end of year and looking to sell for tax losses to offset gains elsewhere.
well that kind of income is a fantasy land to traders like you that keep averaging down into stocks that keep dropping 50% every day or two.
well its obvious this is getting diluted to death still. No reason to buy yet. Almost December too, there will be lots of tax sellers. Some people that are down 80-90% and have high incomes at least can save 35-45% of their loss depending on which state they live in.
you will need 1,000%+ gain just to break even by the time news comes out. Why not wait for news? What are you losing out on? Stock dropping 20-50% every day?
I been learning and trading markets for over 2 decades now and it pays my bills. Dilution plays, bk plays, delists I have traded thousands of them over the years. By now know a thing or two.
Just because most of my trades are day trades doesn't mean I don't swing. First 4-5 years was mostly swing trader. I got a few holds now and keeping an eye here. But holding dilutive death spirals that keep dropping after buying is not my thing. There is no shame in selling and rebuying at better price. After reading the filings today I will not be swinging this any time soon as any bounces for time being will be bull traps until note is finished. Not even close at the moment.
Honestly I don't understand your approach. You don't make money when company is issuing more and more shares and selling it down to the gates of hell. If you like the company wait for dilution to end. When it turns uptrend will last for weeks/months. If you are few days or week after bottom you'll still make big money. Way better than being down 90%+ on 20 average down buys. I first bought this after it dropped 90% within a week. Its down near 90% since. Neither you or I have any clue if this will finally bottom .10 .05 or .01. What you doing is not investing, its blind gambling randomly picking spots without an exit strategy if your buys are bad.
Happy turkey day