I couldn’t care less, I said no such thing. I only care that factual data be presented, not misinformation that helps no one. I don’t even know what the reference to “at some point in the next couple weeks they will sell.”?? Sorry, that makes no sense, Selling shares will prove nothing.
Some firms facilitate the sale of positions held by their customers in low-value OTC equity securities, as defined in FINRA Rule 6420, that they or their customer may deem to be “worthless.” The firm purchases the shares to remove the position from the customer’s account and to enable the customer to claim a capital loss for tax purposes. The purchase price typically is nominal and set solely for purposes of liquidating the position. In some instances, it may not be a per share price, but may be sold, for example, for one penny or one dollar for the entire lot. Hence, these sales sometimes are referred to as “penny for the lot” transactions.
Once again, a “penny for the lot” trade is merely purging a security from an account at a complete loss to offset capital gains on real stock.
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