I appreciate your reply, and everyone's reply on the topic. I'm glad we got a big discussion going. With that said, I'm afraid we may all have to agree to disagree. I recognize that TD Ameritrade will not let me buy a caveat emptor stock after May 25th. I got that. But any stock that is not current as of September 26th (with info to get current in by June 30th)....but does NOT have a caveat emptor designation....will be available to buy in my opinion. You can buy it on the Expert Market. I already buy stocks on the Expert Market. I've owned SOLI, as someone brought up here tonight. I currently own SSTY, which trades on the Expert Market.
So we can buy stocks that get "delisted" for not being current. No, we won't get a bid/ask quote, nor the volume available at any price. But we can buy them. David Lazar, George Sharp or any custodian may file for custodianship on a stock that doesn't have a CE but resides on the Expert Market because it isn't current. And we can buy in. That's why I don't think anything will change much, other than the ability to buy stocks with a CE.
But even there, it's TD Ameritrade's rule, right? The SEC never said that retail cannot buy CE stocks. Thats why I think one brokerage will break from the others and allow it. Or a new one will come along, the way Robinhood did. VIBI was brought up on this board tonight (not a Lazar stock). I own millions of shares of VIBI. There's no caveat emptor, but they're not current. Based on the rules, if they don't submit info to get current by end of June, they'll be kicked down to the Expert Market on September 26th. And nothing will change for us. I can buy and I can sell. I just won't see bid/ask price or volume, and of course no Level 2.
I honestly contend that the way we all make money now will not radically change this year. If the SEC forbids buying in all stocks that are no info/limited info or have a CE, then that's different. Then things have really changed. But right now the SEC isn't forbidding anyone to buy anything. They're just making it harder by dropping stocks down to the Expert Market. And there will be confusion galore, that's for sure. Take a stock like BLLB for example (another one I own). They are Pink Current, but have a caveat emptor designation. How often do you see that? Based on the rules as I understand them, BLLB won't get dropped down. But TD Ameritrade won't let me buy it either. Bizarre.
And for full disclosure, I own PGLO which was also brought up tonight. I have a lot of it. May hold through merger. I'm holding my old Lazar play PFMS (now SMFX). I own HRAA and ANAS. I think that's it for current and former Lazar stocks that I still own. Nope, I own VDPH as well. Forgot about that one.
Hope everyone here has a great trading week
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