[bold]VERY IMPORTANT REPOST
Information from another board about cusip and symbol changes and what happened to pps approx. 13 days after change took place. Let's hope and pray this is what may be going on with ETMO ETMO 13 DAY TIME FRAME IS TOMORROW[/bold]
** CMTN - FAILURE TO DELIVER SHARES
Possible Short Squeeze due to FTD (Failure to Deliver) may be in effect for CMTN:
6. Mandatory Close-Outs of Threshold Securities.
Regulation SHO requires broker-dealers to close-out all failures to deliver that exist in threshold securities for thirteen consecutive settlement days by purchasing securities of like kind and quantity ("close-out")
A Symbol and Cusip # change may be the only time, when broker-dealers are actually FORCED
to close out all FTDs. Could this be the reason behind some HUGE runs that have happened with some popular stocks that did a symbol change???
This may be happening with CMTN right now.
May.17.2007 - Symbol changed from SPNI to CMTN.
May.25.2007 - As of today, Canadian brokerages TD Waterhouse and RBC Securities have FAILED TO DELIVER shares.
Is this what caused RGNO to run 1200% and CFUL to run 6000%??? LETS TAKE A LOOK:
RGNO:
Jan.23.2007 - Symbol change from FCNK to RGNO
Feb.9.2007 - Scottrade had FTDs as customers STILL hadn't received their shares.
Feb.9-Feb.13.2007 - RGNO ran from 0.021 to 0.25 (1200%)
Jan.23 to Feb.9 is 13 consecutive settlement days.
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CFUL:
Feb.5.2007 - symbol change from CNDO to CNDI
Feb.26.2007 - begins a 6000% run from $0.08 to 4.90.
Feb.5-Feb.26 is 13 consecutive settlement days.
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COINCIDENCE???
It appears that CMTN may be in the same situation. CMTN already has massive FTDs (I have not received my 15,000 shares) and the float is only 600,000!!!
Most of the float is in tight hands now.
We could be looking at massive short squeeze soon, as brokers are forced to buy shares on the open market.
