MrMeanGreen Posted January 23, 2008 Report Share Posted January 23, 2008 One of our company's biggest customers just filed for bankruptcy yesterday, and their stocks currently sit at $.10/share where a year ago they were at $32. They were the product of two medium-sized companies a few years ago that did a merger to become pretty huge. Now, rumor has it that they'll either be backed financially by two very large banks, or bought out by yet another, much bigger corporation that in the last year has bought up some other businesses in the same situation and are now just retarded big and doing excellent. There's always the chance neither of these will happen and they'll just fold, but with a long history and sites all over the US, I don't really see this happening. What would you do? Quote Link to comment Share on other sites More sharing options...
medium fast Posted January 23, 2008 Report Share Posted January 23, 2008 Invest everything you have in it, and hope for the best. Not really, if the source of the rumors are somewhat reliable, you might as well buy a couple hundred shares and see what happens. Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted January 23, 2008 Author Report Share Posted January 23, 2008 I was thinking $100 for 1000 shares, or wait until tomorrow and see if it drops any further. Quote Link to comment Share on other sites More sharing options...
Patrick Posted January 23, 2008 Report Share Posted January 23, 2008 Might as well throw a hundred bucks or so that way. Make money, cool. If not, it was a hundred dollars. If you can say, what company? Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted January 23, 2008 Author Report Share Posted January 23, 2008 I can't say, as some of the info is not really "public", per se, but passed on by some of their pissed-off union employees with 20+ years with this company. Quote Link to comment Share on other sites More sharing options...
Patrick Posted January 23, 2008 Report Share Posted January 23, 2008 Ahh. Insider information I'd go for it. Quote Link to comment Share on other sites More sharing options...
GSXRAntwon Posted January 24, 2008 Report Share Posted January 24, 2008 Hells yes insider trading....do it...I say invest about $3000 worth of shares and hope they multiply!!!! Quote Link to comment Share on other sites More sharing options...
Supplicium Posted January 24, 2008 Report Share Posted January 24, 2008 My dad and I split a 10k invest in Dominion when there stock tanked @ 50 cents a share. We got lucky and someone bought them up which made us a decent return. It could have easily went south though. Quote Link to comment Share on other sites More sharing options...
Kevin R. Posted January 24, 2008 Report Share Posted January 24, 2008 Do it. Quote Link to comment Share on other sites More sharing options...
Tractor Posted January 24, 2008 Report Share Posted January 24, 2008 Well at 10 cents a share you should probably throw $100 down on it and see. Worst thing that could happen is you lose $100. If you think their business will work and there is a market for it then someone will buy them. If the idea is dumb then you can just place your bets and see what happens. Most brokers you try to place the stock order with may require you to have a "Margin" account with them. This is basically a credit line from them to you. They see "penny" stocks as high risk. Its also possible they would require a larger sum of money on account with them. I know you wouldn't be a risk to them in this stock, but rules are rules. Evan Quote Link to comment Share on other sites More sharing options...
GSXRAntwon Posted January 24, 2008 Report Share Posted January 24, 2008 Can I throw $100 in? Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted January 24, 2008 Author Report Share Posted January 24, 2008 I was thinking about doing E-Trade.com or something, isn't it a flat rate of like $9.95 for your first purchase? I mean, some of you hit my thoughts exactly. Throw $100 in. If they tank, I'm out $100 and there's dinner and a movie for the wife and I. If it goes to $1, that's still $1000. I'll see what they sell at tomorrow. They were at $.13 yesterday when they declared, $.10 today, so maybe I can double my investment if they hit $.05 tomorrow. Quote Link to comment Share on other sites More sharing options...
Tractor Posted January 24, 2008 Report Share Posted January 24, 2008 Yeah etrade is a good one. I use scottrade and there are a few free ones like zecco. I think you might be paying more like $20 per trade for a penny stock though. The $7 dollar trades that scottrade and others do are for stocks on the normal indexes that they can easily buy from someone else down on the floor. Also a few cents won't matter because you won't be locked in at that price anyway. Especially in a penny stock. Unless the broker currently holds enough shares the transaction will take a few minutes up to a few days depending on how soon they can find a seller. I agree though if the company looks good you could be sitting on $20 or $50 share price in a few years. Its not unheard of just high risk unless its a company your comfortable with. From an investment broker like scottrade you can read all the companies SEC filings. Everything from tax reports to human resources events get filed with the SEC. Evan Quote Link to comment Share on other sites More sharing options...
Total Sign Posted January 24, 2008 Report Share Posted January 24, 2008 Hells yes insider trading.... Anthony.... The next Martha Stewart! LMAO! Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted January 24, 2008 Author Report Share Posted January 24, 2008 I just opened an Ameritrade account. $9.99 across the board, penny stocks or not. I'll be paying attention tomorrow, I guess their stocks were at $.01 today for a brief period. Quote Link to comment Share on other sites More sharing options...
AJ Posted January 24, 2008 Report Share Posted January 24, 2008 i want in on this haha. Quote Link to comment Share on other sites More sharing options...
Patrick Posted January 24, 2008 Report Share Posted January 24, 2008 No kidding, me too lol. Quote Link to comment Share on other sites More sharing options...
Akula Posted January 24, 2008 Report Share Posted January 24, 2008 Hold up a sec kids. If you don't have a $5000 minimum account balance with etrade they charge $20/month for your account. I would think about something that doesn't require a minimum balance. If the company is bankrupt they will go pink sheet soon and be a penny stock. Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted January 24, 2008 Author Report Share Posted January 24, 2008 Ameritrade doesn't require a minimum balance: http://www.scottrade.com/online_broker_comparison/discount_brokerage_comparison.asp It seems to be the only one, in fact. Quote Link to comment Share on other sites More sharing options...
Trjackson Posted January 24, 2008 Report Share Posted January 24, 2008 Please educate me. First off, I was under the impression if a company(such as the one you are talking about) is doing horrible and is rumored to be going down hill, one can't buy any stock until it reachs a larger dollar amount. I was told this when Dana was going down hill (19 dollars a share, 4 months later .42 a share), I was going to buy a piss ton, good thing I didn't oh well. Nevertheless, I was told we couldn't purchase any. Two, I thought you had to buy at least 2000 dollars worth of shares? My ignorance is showing. Jackson Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted January 24, 2008 Report Share Posted January 24, 2008 Please educate me. First off, I was under the impression if a company(such as the one you are talking about) is doing horrible and is rumored to be going down hill, one can't buy any stock until it reachs a larger dollar amount. I was told this when Dana was going down hill (19 dollars a share, 4 months later .42 a share), I was going to buy a piss ton, good thing I didn't oh well. Nevertheless, I was told we couldn't purchase any. Two, I thought you had to buy at least 2000 dollars worth of shares? My ignorance is showing. Jackson no. I use ameritrade too. I like it. Quote Link to comment Share on other sites More sharing options...
excell Posted January 24, 2008 Report Share Posted January 24, 2008 I opened with Sharebuilder, http://www.sharebuilder.com - if you use promotion code SHARE50 they'll give you $50 after your first market trade in 30 days. $9.95 trades, no minimums, etc. I have an ING Orange Savings account so it made sense. Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted January 29, 2008 Author Report Share Posted January 29, 2008 The stock went from $.01 to $.60 in two days, and is no hovering in the $.30-45 range. I'm pissed because had I picked it up (if my account was ready) on the first day for $100, I coulda sold for $6000 two days later. QBRWF They produce magazines, namely Primedia and a shitload of others (Better Homes & Gardens, Popular Mechanics, etc.) and have about thirty sites around the country. They've been around about eighty years and are huge, plus the $750 million refinance they just got helps. The stock will be up past a few dollars by summer. Quote Link to comment Share on other sites More sharing options...
Drewhop Posted January 29, 2008 Report Share Posted January 29, 2008 Is it called Quebecor ? Quote Link to comment Share on other sites More sharing options...
cptn janks Posted January 29, 2008 Report Share Posted January 29, 2008 i would have sold the stocks short before the company went bankrupt Quote Link to comment Share on other sites More sharing options...
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