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MUST READ THREAD https://www.reddit.com/r/Superstonk/comments/phujc2/introducing_the_expert_market_otc_market_groups/ This guy is on the right track. I'm just waiting for the lawsuits to begin.....
From what I understand they may still be buying them in Canada.....and Interactive Brokers may be allowing some buys.....albeit they are hit and miss.
I don't think there are any.....
And look at the enormous spreads on most of them. This is why I said....traders will have a hard time making money from here on out.
So far I have been able to buy 150K shares here. I like our odds in court and the chances of buyout/reverse merger.
The only part of the article I disagree with is the part that stated what we are seeing now was an "unintended consequence". That is some buffalo bullsh!t. They knew EXACTLY what they were doing. When you allow opportunities to a few and exclude the rest, that is not a "free and fair" market.....that is a RIGGED market.
Very informative article. Thanks for posting.
Creede and I (as well as Big Brother who provided a wealth of info) have spoken about this for some time now on this board. I honestly do not see how this is even legal. How can the SEC open up opportunities to so called "expert, professional traders" while shutting those opportunities off to all others? It is criminal. It is rigging the market in broad daylight.
I agree....I reposted the article on the Twitter SEC site. Hopefully the truth is getting out there and we start seeing lawsuits.
If NordGold R/M's here.....forget about it. It will be a $20 stock or more.
That has nothing to do with whether a stock is a shell or not. Even a shell must submit limited info to actively trade. https://www.otcmarkets.com/stock/XNNHQ/overview if you look to the right, XNNHQ has the shell designation. According to the new regulations, Lazar now has 18 months to execute a merger deal here. We are locked in now, for better or worse. When the time comes, Lazar can easily submit the info required to move this to pink limited or pink current status. When he does, many will be glad they are locked in. Those who liquidated it for a tax loss will be kicking themselves. I DO NOT think Lazar just abandoned this shell.
VERY nice share structure and pink current. NICE find!
Thanks for the tip.....will check it out.
Yeah, makes you wonder.
I have also heard that IB does'nt have the greatest customer service once you open an account there. So....i'll wait and see. If I keep hearing that more and more people are buying expert market, i'll probably have to consider opening an IB account.
I have not opened an IB acct either, for the reasons you mentioned....and there does seem to be a few conflicting reports as I have read tweets from some individuals saying that IB would'nt let them buy a certain security. Not to mention.....opening an account there seems alot more difficult than most other brokers. I asked myself "is there a 4 year course you have to take to figure this out"? LOL I'm old though.
Your welcome :)
With MDWK I do not believe a custodian is involved but their filings say they are actively looking for a merger. With TYTN.....Caren Currier is now involved and she has an impressive resume in business and experience in reverse mergers.TYTN looks especially good to me. Shells with this good of a share structure at this PPS will be rare. I think more will be finding it soon.
Yep. Agreed.
Good post and thank you.....I am actually feeling somewhat more optimistic today (as opposed to yesterday). I was thinking.....in this new market perhaps Pink Limited Info will be the new bottom tier (as it pertains to when we buy) and for shells looking for R/Ms. Perhaps we may even see a brokerage step up and allow trading on the expert market.....although from what I understand it may be like throwing darts at a board with a blindfold (like the grey market). I am willing to keep an open mind. If you talk to your contact at the OTCM again anytime soon.....ask him about the shell situation and that 18 month window and whether that is a one time deal or goes for all future shells as well. Thanks again, i'll talk atcha later.
Yeah, I know I said I was quitting but old habits die hard LOL. It may be a matter of looking harder and selectively choosing what we buy. Let me know if you find out anything about the shell situation as it pertains to the new SEC regs.
Check out TYTN and MDWK I bought 100k shares in TYTN and 50k shares in MDWK. Both shells with fantastic share structures actively looking for reverse mergers.
There will definitely be business for any brokers that step up and give their clients freedom to buy whatever they choose....
Thanks. I gave you a follow as well. One video I saw from OTC markets stated that for stocks with the shell designation "the clock starts ticking on Sept 28". 18 months to find a merger deal/get pink current. The same video spoke about understanding how important reverse mergers were to companies and the markets. So....this is all very unclear. Do they plan on putting all future stocks that become shells in the pink limited market with an 18 month time frame? Or do they plan to axe the entire pink limited tier (or those limited stocks with shell desgination) in another 18 months? That would mean no more future shells for reverse mergers. I really wish they would have explained this better.
Yeah....as soon as I read that I thought to myself "Creede was exactly right". I have been hearing mixed messages about Interactive Brokers....some are saying that they are buying Expert stocks, while some others are saying they won't let them buy certain ones.
Quick question, Creede. I remember that the OTC stated in a video I watched that all shells would have an 18 month extension/time window in which they could continue to trade and make a merger deal. Did this pertain to strictly all stocks that had shell status as of 12/28? Or....will OTC trading stocks that become shells in the future also have an 18 month window to get a deal done? What about shells being lifted from the expert market?
Interesting tweets/thread from yesterday
there area few on Twitter saying they have been buying Expert stocks from Interactive Brokers.OTC friends, you can buy and sell securities on the "expert market," you just won't be able to see any of the quotes. I verified this on my Interactive Brokers account. $sthc $actl $cdbt https://t.co/4zkIATdRQt
— Extraneous (@Soylent84) September 28, 2021
That's good....still holding that one.
Good post. Agree. I am out of OTC for now. Unless something unexpected happens, like reversing course (fat chance) this market is dead in the water. I don't see myself trading warrants, not my thing. Keep me posted if anything interesting happens. I would wager that we will see many IHUB reverse merger and custodianship boards being taken down because no such opportunities will longer exist.
The OTC has outperformed the big boy stocks for many years. Ridiculous amounts of money have gone through this market. I say boycott it for what they have done. Of course, I know this won't happen. Too many people under the illusion that the sun will come out tomorrow.
Problem is.....there are too many bullsh!tters on Twitter and IHUB saying that this is going to be a "good thing" when they should be pulling together and talking about lawsuits for the very reason listed in the previous post's tweet.
Good post from Twitter
I agree.
— BossJayCross (@BossJayCross1) September 28, 2021
The SEC has no interest in protecting us retail investors.
Most likely this rule will benefit OCONUS corps who will be given a bargain reverse merger pool of US corps to enter US markets thru the new #OTC back door. Insiders win.
I held all my 🛑s & CEs #WeShallSee pic.twitter.com/dfJAOXq2JS
It's a dark day in the OTC.
I left a tweet on OTC markets page......told them that their market is now screwed after these SEC regulations. I am now basically done in the OTC (except for a few that I have left). No reason to trade this market any longer. Peeps on Twitter pushing stocks with 50 billion shares outstanding LOL and telling their followers it is going to the moon. Sad.
True...but again it does us no good when we cannot buy on expert market. Like I said....the expert market is for a privileged few? This cannot be legal. It's rigging the market in favor of a certain few....once again.
With the astronomical ask prices we have been seeing thus far on the low floaters that go to Pink Limited/ Current.....I can tell you that I don't see any plays at all in the future. This comes from someone who has played these a long time. They have officially killed it.
How are you going to buy when the stock is still on the "expert market" upon reinstatement filings? That is the whole point I am making here. Once filings are caught up and it does become pink limited or pink current.....the ask is astronomical. It is what we have been seeing already. The profit was made when you could buy as soon as you saw reinstatement or custodianship filings. They have killed the whole point of playing these stocks.
Correct. No one can buy until Pink Current.....and by that time we will see an astronomical price on the ask. It absolutely KILLS the entire reason for trading custodianship/reverse merger stocks. It's time to face the music, they have killed our OTC market. No one in their right mind would want to trade here now.
Allegedly, the SEC did not want an "expert market"......the OTC "talked them into it". I don't believe this at all. I believe they are rigging the market for a select few.
Sorry to be so negative.....but i've traded these stocks for a long time and have made alot of money from reverse mergers in the past. I just see no positive way to spin this at all. I am physically ill about what they've done.