If you want $50 or a GRAND a share, Ask for it.
Here is something you can do. And it could have a real impact on the stock price if you are holding something like WAMPQ. It's a very easy thing to accomplish. And it won't cost you.
Place a high dollar sell order for your shares.
How does this help???? I'll tell you. When you hold shares with your broker just as a number of shares in your account, your broker can effectively do what he wants with them. They show up in your account, and the broker is responsible to deliver them at the price you sell them for. But if they are simply held in the account they can be loaned out by the broker for any reason, even to short sellers.
Two ways to stop this. Order certificates, or place a sell order on them. If you want $50 for your common shares, place a sell order at that price. Dreaming or not, it takes them out of circulation. If you want to get a thousand each for your shares of WAMPQ, place a sell order at that price. Sometimes the trading software kicks back an order like that and won't allow it. If this happens, call the broker and place the order for the trade in person. They can place the order in the system for you. I recently did it with a couple of thousand shares of WAMPQ and he threatened me that if the sale went off I would owe them a $50.00 commission. (like a $50 bill was going to be a big deal if he sold all my stock for 2 million dollars?) Pay no attention that they think you are crazy. Just tell them to do it.
When the shares are out of circulation the shorts are more
vulnerable. There are fewer shares to buy and sell. It could result in a short squeeze where all the people short have to cover at once and drive the price through the roof. Maybe even as far as hitting your order. If that happened I think you would probably be wild with Gleeeeeeeeeeeeeeeeee (pass me a clean pair of underwear please!). ahem..
Do set a price you are happy with. No telling what could happen.. With the WAMUQ there are pobably too many shares out there that the private holders can't make too much difference. But it feels good anyway. The preferred issues are another story. Much smaller float out there on those.
