Replies to post #19935 on Cache Inc (CACH)

[uber darthium]

Trying to buy 10,000,000 share and nobody will sell to me CACH

[uber darthium]

I need 8.5 million shares CACH

[VeronicaFox]

False, there are no abusive naked shares, sandra. A trader cleared their holdings via a penny for the lot trade, i.e. 20,000 shares @ $.00005 = $1. Someone bought them at a higher price that no longer believes the CACH nonsense 5 years later. It’s merely purging a security from an account at a complete loss to offset capital gains on real stock.

EVERYTHING ISN’T A CONSPIRACY. Nothing nefarious about such a transaction with these illiquid dark “expert market” securities, especially at the last quarter for tax purposes.

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. These sales are considered trades (i.e., there is a beneficial change in ownership) and are not expressly excluded from FINRA trade reporting rules. Accordingly, firms must report these sales to FINRA for public dissemination purposes as they would any other trade. Because many of these sales are effected at a per lot price, the per share price may extend beyond six decimal places.


https://www.finra.org/sites/default/files/NoticeDocument/p124501.pdf

[uber darthium]

WOW .0000000005 and still nobody wants CACH