pis...(put something here)
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Flipped that one yesterday and bought it back again this morning on the dip and flipped it again.
The end of year does make the wash sale a tricky situation. I trade actively and don't let wash sales stop me. Years ago it was a different situation because the brokerages didn't have to report cost basis and wash sales and you were solely responsible for keeping track of wash sales. There actually was a software you could buy to keep track of them - don't quote me but maybe it was gainskeeper? But it is way easier nowadays.
Not really. The wash sale was created to stop people from using it as a way of taking a loss on something that they still want to own. And when they don't allow the loss because you rebought it within the wash-sale time period, they are still allowing you to take that loss but on a delayed basis. They add the loss that you weren't allowed to take to the cost basis of the new shares you bought. So basically you are still taking that loss but later on.
PETS down 29% loss in the second quarter and suspended its divy
Yeah, that's what I would do. So technically they are worthless to you, but they aren't really worthless unless they no longer trade because you can still sell them. That's better for you. I really don't recall what other brokers do in this case. It's been so long since I traded otc's. But I hear you on the Etrade rant. Morgan Stanley has ruined that brokerage. They used to be so much more customer friendly to active traders. Now they nickel and dime you for everything.
Now down 41% - I'll take some here lol
COMM down 22% issues downside guidance
Haven't touched that one and for the exact reason you brought up. The volume stinks.
What would be the point of paying $5 to get rid of a "worthless" security?
-Well, I could think of a few. One that you brought up. If they are penny stocks that you have held for many years the chance of them reversing again and hitting you with another reorg fee are possible. Wouldn't you rather pay $5 to get rid of them then chance a $38 fee down the line? Why can't you just sell them online yourself instead of having Etrade do it? The way it used to work was (and I point this out because they have changed so many rules since MS took them over) if say you sell the entire position, they only charge a commission up to what it was worth. So if your entire position only comes to $3 but you pay $5 commission, they just charge the commission at $3.
-Not sure if theses stocks are actually "worthless." If they are still trading and doing reorg like reverse splits then they are not considered worthless. You could clean up your account and have a nice loss to offset your gains so you don't have to pay any taxes on them. If those losses exceed your gains you can use them each year as a carry over to offset future gains as long as your bottom line doesn't exceed a negative 3k for the year.
If they are truly "worthless" and they are listed under a cusip number you technically need to rid of them the year they officially became worthless. If you didn't do that in the year they became worthless you could always go back and do an amended return - I think you have up to seven years to do that.
Going back to pre MS, I have in the past removed stocks that were listed in my port as a cusip. I thought they would be considered worthless but Etrade figured them in as a total loss on my 1099. Maybe a stock isn't considered totally worthless even when it is under a cusip.
I'm guessing from your description that your stocks aren't truly "worthless" and you can easily use them as a tax loss. Unless you are still following them and you think there is a future event that may catapult them why bother keeping them?
VVOS down 42% after reverse splitting today 1:25
AIRE holy cow Batman - geez, ipo that keeps dropping after huge first day
SGHT Item?7.01
Regulation FD Disclosure
Sight Sciences, Inc. (the “Company”) is evaluating its guidance for full year 2023 due to the uncertain impact of reimbursement coverage for its Surgical Glaucoma segment discussed below. The Company plans to discuss any updates to its guidance on its upcoming earnings conference call currently scheduled to be held on November 7, 2023.*
Sorry to hear - hope you feel better
SGHT down 50% don't see anything yet
SONN down 36% offering priced at $1.60
NUZE down 40% offering priced at 3
EVLO down 55% Evelo Biosciences said it is reviewing strategic alternatives after its Phase 2 clinical trial of EDP2939 for the treatment of moderate psoriasis failed to meet its primary endpoint.
MANU down 11% Qatari banker Sheikh Jassim is withdrawing his bid to buy Manchester United
BIOC down 59% After considering strategic alternatives, Biocept, Inc., a Delaware corporation (the “Company”), filed a voluntary petition for relief (the “Petition”) under the provisions of Chapter 7 of Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (the “Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) on October 13, 2023.
OMER down 46% Omeros said it is discontinuing its late-stage clinical trial evaluating its narsoplimab drug for the treatment of immunoglobulin A nephropathy after interim data from the trial failed to meet its primary endpoint.
ALDX down 73% The FDA stated that "t does not appear that you have data to support the clinical relevance of the ocular signs to support your dry eye indication."
OM down 50% reported lower-than-expected preliminary third-quarter revenue and warned of lower capital spending in the fourth quarter.
PHIO down 41% after huge run yesterday when they reported favorable data from two preclinical studies
HOFV down 29% offering priced at 3.75
SILK down 50% lowered its full-year revenue outlook
I flipped it for a buck gain. - edit actually for a 1.32 gain - should have held it longer I would have been up four bucks.
AKRO down 68% the company released an update on its lead product candidate, a treatment for nonalcoholic steatohepatitis, a form of fatty liver disease.
To add insult to injury SEEL has an offering the day after they huge drop. Priced at .30. Down another 34% today.
Ok, I finally dipped in and got some ARM - hope I want them.
SEEL down 76% - too small sample size means the study did not meet its primary end point
Yes, I have been watching it.
Sold that one way too early at 2.88 - nice bounce.
SPRY down 59% after FDA responce
Hi Shawn! So it ends up that they weren't able to migrate any of my positions that had multiple lots into TOS. They told me that anything I buy after the migration will show lots but anything before will not. They told me to go to the website to see my lots. I told them that this isn't 1999 and I don't want to be trading off a website. That's fine for someone who is long term and buys and sells every now and then. For someone who does multiple trades everyday you can't be trading off a website - you need a trading platform. They informed me that this problem will eventually get fixed where my prior history will show lots, but they could not give me a window of when. So I asked them if they could switch me back to StreetSmart and hopefully by the time they phase out that platform they fix that problem with TOS. They agreed and this morning I got my StreetSmart with all my correct positions back.
I haven't tried to see if TOS still works since they already migrated me that may be a chance.
I am totally with you on TOS. Way too many bells and whistles on that platform that I will never use. I still like Etrade Pro the best in terms of what it has to offer and the appearance. TOS is hard on the eyes and you can't change the font to bold where you can do that on Pro. I just hope Etrade doesn't have any ideas about phasing out Pro with a different platform.
UPH down 57% on judgement order: summary judgment in favor of Needham looks like a bk - saw this on twitter:
https://bkdata.com/business-bankruptcies/delaware-delaware/09-19-2023/uphealth-holdings-11476
I'm sure it also takes a bit of getting used to it too. The more I use it the easier it will be to remember where it is.
Yes, I think that is right. Like Asian or Hebrew speaking people who read right to left will automatically start on the right naturally.
I like the new "mail envelope" and "profile icon." I just think I naturally begin looking at a page on the left side first. I know the Ihub emblem is there but I think it is easier to see if it were on the left side:
Summary: Web users spend 80% of their time viewing the left half of the page and 20% viewing the right half. Adhering to design conventions will help maximize users’ efficiency and company profits.
https://www.nngroup.com/articles/horizontal-attention-leans-left/
My husband sold our Fusion. Good riddance. I hated that car.
So my buy order for 48 yesterday never filled - lmao!