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I was referring in my comment about the new shares that were sold by retail from their broker after the change from shares they owned before the change. I had an in depth conversation 3 different times with etrade yesterday, culminating with a conversation with supervisor of Corporate Actions. If they do no receive the new shares that were sold on a borrow from broker in anticipation of new shares, it still needs to be settle as a short. Meaning T+5 days to cover. With this being a foreign issue, the certifieds can take longer than normal. People that sold are playing with fire if there is a hold up, Forced buy in would occur.
That is what I was trying to tell people whom sold after change with etrade. If it takes longer than normal the shorts will have to be covered and forced buyins would occur on those accounts.
True but same thing happened when csti bid was at .25. Eventually they pull it back. I think this will settle around a dime by the time shares are freed up, and then profit takers will take it to a nickel. Just my opinion
Yeah I definitely notice all went quite lol
You might want to wait and see what new company has planned. If they start diluting as soon as shares are freed up they might be a lot cheaper than .1
It looks like it will pull back. CSTI has a never ending 2500 block that is slowly dropping and NITE has been trying to sell 35k since yesterday and is now starting to drop it down as well. No buyers= lower prices
It may very well get dumped down before any shares are received. MM trying to make a market when there is none= either big run or sell off
Bid and ask tightening here. SSGOF
They are showing the last opening price of IMMA. When they finally get the certified shares they will reflect the new name and ticker symbol with updated price.
Shares look to be getting freed up, or MM's are just starting to stack .31. Would love to see some merger news tomorrow
1.60 ish. Right now blue skies
Look at the 5 year candlestick chart, looks like a huge cup is setting up. SSGOF
That is why I kept calling because they fed me that b/s a couple times. Then I looked into how long normal certified take and how foreign issues can take longer. Thy told me it is not a short but acts like a short. So after t+5 forced buy in occurs. Made sure I explained my position thoroughly and made note how this was different from their normal procedure for cusip changes. They concurred but said sometimes they do this and fault falls on account holder if certified does not come through in time. Had made a nice profit but now am just hoping this doesn't tank when shares are tradeable since my cost basis is higher...
I saw you had linked my comment on SSGOF. Etrade is telling people not to worry as soon as they get certified shares the short will just go away. After 3 different conversation, finally with a supervisor from Corporate Actions they had told me that if they do not get certified within Trade+ 5 days shorting laws will go into effect cause forced buy-ins. Real shifty on etrade's part but other people on board are telling me they called and all will be fine. For their sake I hope they get certified in time, but especially with foreign issues, it could take longer.
I wonder if this will run up to dollars before shares are certified. Would be nuts to see everyone scramble to sell at the highs
Since it considered short position if they don't have shares at t+5(trade+5days), all shorts must be covered and forced buy-in would take place. Call them back and ask. I was on phone with 3 different people and this is what supervisor said. Even thought they are the tucks who put tradeable shares into accounts
They did. Etrade expected them in yesterday but they didnt come. I just had to buy 5k shares at .349 to cover them(even though it was there fault) Better than letting it ride hoping for shares and have a force cover after 5 days above a dollar....
Etrade put new shares with new symbol in my account yesterday. I sold half to ride on freebies and today they are telling me that they put the shares in in anticipation of receiving them but haven't yet. So right now my account is showing that I am short 5000 shares at .18 even though there was no short. Spent 20 minutes arguing with these morons on that it is on them for putting shares in my account that they did not have yet...
Company is dumping this POS too much, you are wasting your breath
She is real thin! SSGOF
I thought retail would panic and we would see a bigger selloff before a bounce effect. shares have been getting churned since thge big volume first brought it down near .012 the first time.
Without that much of a sell off, makes you wonder if we will see a short cover fro naked shorts that pushed it down a couple weeks ago
Really surprised this didn't have any follow through on LOI. HPIL
I was only holding 10k and thought about riding them all but I know how low floaters can go down as fast as they go up. Will re add them if it dips
Yep about 10 minutes ago. Sold 5k shares at .18
Etrade will let trades go through. I sold half my shares to ride freebies @ .0018
I only got 10k shares at .04, so a dollar is mega nice move! SSGOF
.1253 boom! SSGOF....
edit: now .20087
Yeah I see that. My account value keeps flickering between recognizing it and not
Surprised by the lack of action here today. Can't wait for company updates. SSGOF
I am surprised this held up so well today. We might even see a new HOD soon by the looks of it. OXIS
.0004s look like they might fall today. SIML
I see the great wall of china bidding at .01, lets see if they all hold
It was: Posted Friday, March 24, 2017 at 7:14 AM CDT. Released durind market hours but noone saw it because there was no decent release, just Uptick News, whatever that is
Accumulation is through the roof
Maybe they have good news in store to offset any possible selloff. We will see
Yeah that was my point. Only play would be to sell and watch for bottom.
once a/s is maxed and selling is done it could run like crazy for a bit. Problem is the run will start a lot lower than we are now
No one noticed it at all, didn't show up on any normal wires