Stock Market Thread - ALL COMBINED

[StevieD]

For the most part, a reverse stock split is never good, but this 'could' help the stock get listed earlier. This will certainly help future prospects for the company.

Reverse stock splits are MUCH more dangerous when the company is heading down. The above quoted line is a real key, too.

I think we will have a little negative reaction due to the awful stigma with a reverse split, but this doesn't bother me too much at this point.

But why 100 for 1? They only need a buck to get listed.

 

[dawgball]

But why 100 for 1? They only need a buck to get listed.

I don't know the answer 100% here, but there is a stigma attached to stocks under $5, correct? Maybe it's to get past that as well??? :shrug:

Believe me, I don't like this being a $20 stock right now, but if it means getting a full listing then I am not fully against it, either.

I also like getting shares off the market. There were too many shares sitting out there.

I guess time will tell.

 

[MadJack]

But why 100 for 1? They only need a buck to get listed.

because they anticipate the stock falling from $20 a share to, hopefully for the company, no less than $5 per share. they need $5 per share, i'm pretty sure, for the listing.

hell, it will prob fall to .05 this week.

- mr negative

 

[dawgball]

We really have to hope that a bunch of limit orders don't trigger at two-bit brokerages due to the price increase.

 

[MadJack]

and why didn't the shareholders get to vote on this :shrug:

i've been involved in a reverse split before and the shareholders had to vote for/against the move.

 

[dawgball]

and why didn't the shareholders get to vote on this :shrug:

i've been involved in a reverse split before and the shareholders had to vote for/against the move.

A company this size probably has a majority of shares owned by people other than common stockholders. In this situation, as long as they have a 51% majority represented then it doesn't need to go to a vote with the commoners. :moon:

 

[MadJack]

A company this size probably has a majority of shares owned by people other than common stockholders. In this situation, as long as they have a 51% majority represented then it doesn't need to go to a vote with the commoners. :moon:

yup, that has to be the answer.

imagine the people that don't watch their stocks regularly and check in around the end of september :mj07:

 

[dawgball]

yup, that has to be the answer.

imagine the people that don't watch their stocks regularly and check in around the end of september :mj07:

My guess is that most people who do that don't own SPNG. :scared

 

[vinnie]

GET IN ! :00hour

 

[MadJack]

out SPNG at .1696

tried selling right from the open and i kept having to lower my sell price. glad i'm on the sidelines now. might buyin around .05 if it gets that low.

 

[vinnie]

out SPNG at .1696

tried selling right from the open and i kept having to lower my sell price. glad i'm on the sidelines now. might buyin around .05 if it gets that low.

Now you have the cash :0corn

 

[MadJack]

Now you have the cash :0corn

yup, more than enough. sold GE at 14.63 too :SIB

 

[vinnie]

yup, more than enough. sold GE at 14.63 too :SIB

over $30

 

[dawgball]

Really surprised we haven't seen 0.10 already on SPNG.

If it stays at or above 0.15, I think it is a very positive sign with this news.

 

[StevieD]

Really sneaky to come out wirth this before they can even get the 10-K out. I hope it has something good in there or this SPNG will drop like a stone.

 

[vinnie]

bought 4000 shares of DRYS @ $5.91 :0corn

 

[MadJack]

bought 4000 shares of DRYS @ $5.91 :0corn

one thing about DRYS is, you'll have action from 7am until 8pm damn near every day.

 

[dogface]

:sadwave:

I am utterly shocked, as (I will find it somwhere) that they mentioend a reverse stock split was not going to happen!!!

-$11,429.09 today, and will due my dilgence on this now. Was first day on thenew job, so was in training all day so shocking to see my balance down!

Not sure I would have done anything anyways, as it would have been a quick/rash decision.

I am reading more now... but initially not happy and shocked... let's temper that and research...

BTW: Never been part of a reversee split before...

dogface

PS: I will be reduced to 1873 shares. Ugh!!

 

[MadJack]

:sadwave:

I am utterly shocked, as (I will find it somwhere) that they mentioend a reverse stock split was not going to happen!!!

-$11,429.09 today, and will due my dilgence on this now. Was first day on thenew job, so was in training all day so shocking to see my balance down!

Not sure I would have done anything anyways, as it would have been a quick/rash decision.

I am reading more now... but initially not happy and shocked... let's temper that and research...

BTW: Never been part of a reversee split before...

dogface

PS: I will be reduced to 1873 shares. Ugh!!

the way i look at it....

i has this stock looking for the big score.

i had 100,000 shares and was hoping for .35-.45 short term and maybe would have held some for the longer term and bigger score.

NOW...if everything goes good (if i stayed aboard) i would have 1000 shares at $20 (had it not gone down ~25% today).

that means the stock would have to be $35-$45 to hit my short term goal and up to $100 for the huge score.

SPNG at $35 a share? i don't think so.

this will prob go to .05 pre-split making it $5 and then they'll short it all the way back down to 20 cents, then the bastids will sell more stock and dilute it all the way back up to where it was before the reverse split.

i hope i'm wrong for your sake but i like my $17K in something else right now.

 

[MadJack]

on a positive note.....

i thought it would be .05 already.

.10 anyway.

so it held up pretty good.

why did they LIE and say "no reverse split"?

why did they LIE and say the "10K would be on time?"

i've been on a reverse split before and lost 100K because I BELIEVED.