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Something's coming. In addition to the two issuances & tax plan just announced. Posted about them on ST. Sure don't have it all figured out. Especially, why is the company selling other shareholders' stock as an issuance???
In any case, the Preferred issuance is detailed in appendix C of the tax plan release. EFFECTIVELY $4/sh. You must own common stock on 7/11/23 to qualify. You can't even guesstimate how big/small issuance (right conversion) will be; but ceiling is $400M. If they sell any of this, proceeds would actually be anti-dilutive to current shareholders. But I can't find the justification for the insane premium they are charging.
I am bullish for the first time in AGES.
Don't think your broker can do anything except request that physical shares be sent to you (unlikely company will actually comply with that request). They will hold indefinitely or until company recalls them (unlikely). Or you tell your broker to just wipe them off your account.
The only real question is when can you take a worthless stock deduction? Don't think you'd have a problem taking in 2023.
They actually posted to company website: https://sinoagrofood.investorroom.com/sec-filings
That's a riot. They don't do anything, but made the effort to publish their SEC revocation.
At least your portfolio had to be in gain position. My portfolio in net realized loss for 2022. Didn't need to pick losers to sell.
You don't need to close position before market goes away. If it does, it's a worthless stock deduction. Doesn't hit the 1099. It's a manual entry in TurboTax. Taken 2 in last couple years.
$40/ week in trades. At least trades exist somewhere. The body is not in the ground. Yet. Maybe it's one of those voodoo zombie corpses that will come back to life later
Got out for a bit, but back now. Also in EAF & GRFX. Down on all.
"We" can't prove anything; just speculate. That's up to management. We'll see.
"We" can't prove anything; just speculate. That's up to management. We'll see.
Got nothing. And I'm usually the optimist here. Even though the SEC is doing this to "protect shareholders"; that's not current holders. They are preventing future holders from buying; screwing current holders who can no longer sell.
Only recourse is wait til liquidation. If there is anything of value left, Solly will swipe it all. Only hail mary shot is if Hang Ren sues again. Even Solly loses, being able to enforce is a long shot.
Already wrote this off. I give a 5% chance of it being worth anything ever again.
Have technicals become relevant again? Too much manipulation. Don't think recent volume is real enough for that low. Although could be possible if shorts attack again. They may not have the muscle to do that.
As for 30% high... I would be shocked if we did not see another pump & dump before next financials release. That's probably way low, but the price likely won't hold.
It was $14.00 in trades. It did turn my daily portfolio loss into a nice gain though.
So thank you!!! If whoever did this is listening.
I think any broker can place the trade. It depends on weather you qualify as an "expert". Not sure how that is defined.
My theory id that the seller of this acquisition was the purchaser of that last private issuance. If these transactions were combined it would effectively is a merger of the two companies.
They seem to be playing with news releases to manipulate the stock SP.
Tangible BV is a better ratio to use. Intangible assets are usually presumed worthless. Theoretically you are looking at liquidation value, which is closer to .05 per share. By definition this is a value buy. Not bad.
You can check the trades on this site:https://ih.advfn.com/stock-market/USOTC/sino-agro-food-ce-SIAF/trades
Sometimes it based the SP off the bid/ask, if there are no trades. If you hold foreign stock (with "F"suffux - SIAF is not one of these, that is a coincidence because of "Food"), the SP changes after close based on its home exchange x FX%.
I was the 2k trade today. Actually SP was .002 (including commission I guess)
I never pick an all-in SP. Just a starting point. Right now, I'm already buying because I expect a pump before the next short attack (assuming shorts recover - making slow progress).
Once that has cycled. Will probably re-start at $1.40s. Doubt they can get to .60 before 2022 earnings. If those earnings are bad, then remaining shorts will have a 100% gain.
I never pick an all-in SP. Just a starting point. Right now, I'm already buying because I expect a pump before the next short attack (assuming shorts recover - making slow progress).
Once that has cycled. Will probably re-start at $1.40s. Doubt they can get to .60 before 2022 earnings. If those earnings are bad, then remaining shorts will have a 100% gain.
Took a month, but you were right.
Genius on management's part. They played short manipulators good; not losing sleep over that. I was already long with an average of $1.46 at that point. Bailed in the $3's and am now buying again.
You seem to be well versed in the situation. Hope you are utilizing that information well.
Schwab. But can't place new orders. Had a standing order in place before halting they are allowing. Less than 4k left on that order.
If you are classified as an "expert" trader (not sure what that is), they might allow called in orders.
At least SP can't get materially lower :)
Picked up another 4100 for $7.
Yeah, maybe this is ammo for a new lawsuit. Not holding my breath. That was a shot in the dark even if they win.
Yeah, it's a mess. But that's how it's done. Just gotta accept it or just not invest in any Chinese companies on a listed exchange.
If you don't like it, stick to ADR,s and buying foreign stock; if your broker allows; with a $50 fee + commission.
Silly-a$$ way of writing a post. Got a point on how SP got where it is.
But not accurate that everyone loses. Somebody wins. Shorts win now if they cash out, or if AXXA goes under.
If AXXA survives & lists, the last set of bargain hunters win.
Not like anybody's placing new orders. Mine was an old avg down order. Didn't notice til I got 606 new shares and it brought my market value of existing shares to essentially $0
Might be moot anyway. Brokers not allowing trades, no audited financials in years. And they can't even afford pay their web domain fee.
Only thing that shows they still exist is the May filing of "unaudited" financials, that I doubt anyone believes are even close to accurate. And the court rulings screwing shareholders that at least shows they have at least enough cash to pay lawyers.
Surprised they are even trying to keep this Africa thing within the company. From a business perspective, I would abandon SIAF altogether snd do that deal in a new venture. Hopefully there was some reason they need to do within the existing company. Maybe tied to the land rights - the only thing of value here, IMO.
I was the purchaser of that 606sh trade. Total cost of entire trade was $0.58
Schwab is not allowing new buy orders, but I had one open before the change. Not sure how I got that price; my order was for above $0.02; Seller got hosed.
SIAF Domain name license expired. Idiots! Whoever is holding now is charging $3,500 to get it back. They probably can't even afford that.
https://www.godaddy.com/domainsearch/find?checkAvail=1&domainToCheck=sinoagrofood.com
Shortables are 0. No one can short. They shorted to the max which is one of the reasons it was so low. The issuance brought it down more. Then pumpers from Discord jumped in. Then next day issuance was canceled. That, coupled with the pump, blew this thing sky high. And the shorts have no ammo left to fight it.
Pump will die, or shorts get squeezed. 80% chance the pumpers die out. Discord pumps usually die quick. They did have a miracle land in their lap. But they don't have the skill or organization to use it optimally.
A good sign; those don't move on pump & dumps. Volume combined though was less than 100. Since some Nov calls traded at .15, when January ask was .10, leads me to believe these were amateur Retail buys. Still a positive sign.
Shortables nosedived to almost 0. Volume spiked up (and well above the drop in shorts). And bull posts have skyrocketed on Stocktwits. U see what's coming?
Oh, I agree. Took the opportunity to average down yesterday. Was waiting for .011 for a while. Was starting to think it would never get there. This light volume is strange. And I know some people keep quoting the volume as large. Maybe their math meeds a little work. But even the # of transactions is just miniscule. Forget about SP, high or low, it's just odd.
Financials and outlook look good. But it's a heavily manipulated stock which makes SP volatile and unpredictable.
And that makes perfect sense. Market is down because people are bailing to cash. And not replacing with something else. When people do that in a bear market they cash out their high risk assets first. Because of its listing status, SIRC is real high risk. I don't think the dis-proportional drop has anything to do with them specifically. When the market recovers, I would expect a disproportionate rise as well.
Because they're not hitting shortages yet because the lithium shortage is greater and holding up production first. They're not feeling a graphite problem yet.
Not sure if it will catch up. But all you need is one supplier to hold back for whatever reason to artificially create a supply problem to spike price.
Because they're not hitting shortages yet because the lithium shortage is greater and holding up production first. They're not feeling a graphite problem yet.
Not sure if it will catch up. But all you need is one supplier to hold back for whatever reason to artificially create a supply problem to spike price.
User name "BennyMojo". If you're here long enough you'll figure that out. His appearance usually coincides with a pump & dump cycle. A very flamboyant and both loved & hated personality in these parts.
You actually hit the nail on the head there. It took a LONG time for me to get down from 200,000. Still holding 80,000.
Still got open average down bids below $0.04.
As of this second I'm only down 18.61%. Averaging down an luckily timed bailing when I could helped out alot.
Crazier things have happened.
Thank You :)
Maybe. The've put something out there to pump. I find it curious that no more info has come out on the lawsuit. Maybe Hang Ren has been given a reason to hold off. But I haven't seen any signs of accumulation by anyone yet.
Was not a pump. It was a short attack. Look at the chage in shortables balance. Went down all the way to zero as price dropped. There wasn't any volume until after started dropping. If it was a pump there would have been volume spike on the way up first. That's when the pumpers sell and profit. By the drop price bottoms, the pumpers are gone. Currently, those shorts are still outstanding and will need to be bought back.