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.
So, what happens next? The lingering question...
I get that. It hasn't been 6 months.
http://www.streetinsider.com/dr/news.php?id=10838391
I doubt the NYSE decided to throw protocol out of the window early and just delist them. It's only been a little over half of the allotted time. I'm also certain that the NYSE knows about NBG's intent to R/S - which would satisfy the NYSE's requirements.
Well, we'll just have to see what happens later this week.
It seems a strange approach, but they do some strange things over there concerning the mess they're in.
That's true. That's why, in another post, I stated two possibilities for post R/S opening pps: either $4.50 or $2.41. Could they not make the price whatever they wish if they are structured as a new share offering altogether but with existing shareholders being compensated with shares from the new offering rather than leaving them out in the cold? Almost like an IPO? Is it possible? In which case, they could say, "We're going to base this new share structure on $0.30 per old share at a value of a 15:1 R/S...yielding $4.50/share in the new offering.
It's right there in the 6K: $0.30/share becomes $4.50/share post R/S. It's not pulled out of thin air. Is it not possible that the halt and delisting is for the old shares and the new post-split shares will be placed in their stead on Dec. 3rd as stated in the 6K? Maybe I'm missing something, but I don't see the confusion. How long does a company have to get its pps back above a dollar after it has been warned by the NYSE? I cannot recall off the top of my head. I thought they had a little more time before that deadline.
Good point
Lol, good luck! I truly hope it works out. I'm surprised you can put an order in. Scottrade shows it as an invalid symbol.
My guess (at the lowest) is .1609x15=$2.41, but the 6K said .30 and $4.50. I'm pretty sure they know something I don't.
I'll also add, at $4.50/share, institutional investors may run it up further. Then again, they probably won't touch it with a 10' pole, lol.
Yes. It's all there...in black and white, plain as day.
27/11/2015 last day of trading (decommissioning the 3+ billion shares)
1/12/2015 existing shareholders put on record for new share structure
3/12/2015 R/S completed, shareholders accounts credited with new shares, commence trading
Then, who knows. It'll either go up or down, but it seems it will open at $4.50 - which puts me at a post R/S gain of $1.80/share (or approximately $1,100.00).
I'm looking for a short run for a profit after the R/S. After that, I'll wait to see what happens again.
I thought the same thing, and with the cut in shares, won't the available short shares be equally reduced?
I bet a cow...holding onto the farm, lol
Right! As vague as NBG is with its shareholders, we'll know when the rest of the world knows...when it happens.
Sweet. I've been having a buy order open for .001 for about a week. I just checked and it hit this morning. I was just considering modifying my order to .0011 - no need now! 5M shares and counting. Whoop!
Hahahahaha...damn!
That draws attention, too, but I'm not wracking my brain over it. We'll know when we see it firsthand.
I agree - depends on where it closes last day before R/S
Thanks. I'll need it.
I have a little insurance policy elsewhere. So, I'm not worried about this money. It's really not much money either but still close to my original position at a dollar. I'd rather not lose it, but I'm willing to take the chance at solid gains. If I lose it, I'll make it up soon on another position. That, I'm 99% sure of.
Good luck to all who will ride it out. Good choice for all who chose not to, lol!
Ok. I took a small position to ride out through the reverse split.
9,500 shares at .18
I'm willing to risk the loss at these prices. I want to see how this plays out into next week.
This should be interesting.
Man who run in front of car get tired.
Man who run behind car get exhausted.
Confucius say, "Car = NBG"
They could make a mini-series about it
Of course they are, lol. They want a show of confidence for their new offering. Gotta raise as much as possible. There really is not telling. Straight gambling at this point.
I thought for sure this was going the other way this morning. Shows what I know. The Roulette wheel is spinning.
Done.
And I doubt Monday will be better for NBG, lol. I also believe some may be drinking because of it but not me. I drink because I like beer.
You too Yankee!
That's pretty dang cool! Ole Miss ain't no joke. SEC football is where it's at. I'm no fanatic, but I like SEC football. I'm a native New Orleanian. So, I root for our flagship university. I married an Arkansas girl. They whooped us last week. Right now, there's more excitement to be had watching BIEL build up.
About what? LSU? Or the RV I'm going to buy for tailgating at the games once BIEL makes the big run?
I doubt I'll get it, but I placed an order for another 3M shares at .001 "Good Until Cancelled" an hour or so before market closed. Never know. Hopefully it dips next week just long enough to get it.
Geaux Tigers! It'll be a staple in the Rebels locker room after the Tigers get done with 'em.
Take out another mortgage on their house.
Sweet
I'll have to get set up
That's one thing I haven't done yet - intraday trading. It seems when I buy or sell, it has to clear for three days before I can make another move. What do I have to do? Set up a margin account?
Ah! Nice bounce!
RIGHT!!! Greedy mo fo's! Did you read the SA article this morning. That dude summed it up nicely. Says he knows some of the cats in upper management at NBG, and they don't know the difference between stock and livestock.
Read here:
http://seekingalpha.com/article/3701706-national-bank-of-greece-reached-my-price-target-of-zero-now-what
Good luck. You'll probably get a chance to average down...waaaay down.