Thursday, November 23, 2006 12:21:00 PM
Forgot to include message to make it easier to follow post:
have two other stocks that have issued stock in another company as a "dividend"> In both cases the shares were issued as "restricted" and still sit in my brokerage account. One has started trading and the other has not. The stock that issued the dividend has been lanquishing ever since. (6 months).
I look at this dividend as a 50 to one reverse merger into another company with the other company about to receive all the assets and this company becomming a "shell". So, if you have 100,000 shares of Equitable" you will end up with 2,000 shares plus warrents of the new company SOMA.
I see this as "pennie" tactic that will pump this stock up for the short term but, in my view, unless some large contracts are secured, will eventually become a "dormant" investment.
I frankly dont know what this "short" covering will eman for the price of this stock. It hasnt really done much to date but who knows what will happen. Peenies have suffered ebcause of stocks like SLJB. I think you may not see the kind of buying that will cause huge price appreciation from brokerage hoiuse looking to cover. I hope I am wrong. JMHO.
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