Penny Stocks?? - Page 2

mjUTfan · 03-02-2010, 09:57 AM

I bought one last summer at .55 cents, is that a penny stock?

It has gone to a reverse 1 to 5 split, now trades on the NY Stock Exchange and is valued at around $18-19.

There is SOME gold in those stocks.

JohnL · 03-02-2010, 10:03 AM

Clearly he said penny stocks.....you bought half dollar stock.

Good work!

PJ · 03-06-2010, 09:20 AM

Quote:

Originally Posted by mjUTfan

I bought one last summer at .55 cents, is that a penny stock?

It has gone to a reverse 1 to 5 split, now trades on the NY Stock Exchange and is valued at around $18-19.

There is SOME gold in those stocks.

$$ Homerun!

barrybnds · 03-09-2010, 11:26 AM

I've thought about doing the same thing. Thanks for all the information!!! Just a quick question. My company filed bankruptcy and declared all the stock void but it still trades. Any reason for this?

mjUTfan · 03-09-2010, 11:36 AM

Are they under re-organization?

deans · 03-09-2010, 11:38 AM

Quote:

Originally Posted by barrybnds

My company filed bankruptcy and declared all the stock void but it still trades. Any reason for this?

P T Barnum figured that one out and stated the reason a long time ago.

JD

JohnL · 03-09-2010, 08:05 PM

Quote:

Originally Posted by barrybnds

I've thought about doing the same thing. Thanks for all the information!!! Just a quick question. My company filed bankruptcy and declared all the stock void but it still trades. Any reason for this?

Yes, under the reorganization, they can sell new stocks. All the owners of stock before the reorg, have worthless paper. The old stockholders are out in the cold with nothing, the new stock holders have value in the company.

In a nut shell.

barrybnds · 03-10-2010, 12:26 PM

Quote:

Originally Posted by JohnL

Yes, under the reorganization, they can sell new stocks. All the owners of stock before the reorg, have worthless paper. The old stockholders are out in the cold with nothing, the new stock holders have value in the company.

In a nut shell.

Yes we re-organizing. It's Citadel Broadcasting. So If I buy it now it's new stock?

mjUTfan · 03-10-2010, 12:47 PM

Quote:

Originally Posted by barrybnds

Yes we re-organizing. It's Citadel Broadcasting. So If I buy it now it's new stock?

Yes that is the way I understand it

03-02-2010, 09:57 AM	#11
mjUTfan Senior Member Join Date: May 2004 Location: Goliad, Tejas Posts: 7,274	I bought one last summer at .55 cents, is that a penny stock? It has gone to a reverse 1 to 5 split, now trades on the NY Stock Exchange and is valued at around $18-19. There is SOME gold in those stocks. __________________ More guns...more deaths; it's very easy to understand: Hockeydude, 12-11-2007

03-02-2010, 10:03 AM	#12
JohnL 2005 NCAA Bracket Champ Join Date: May 2004 Location: Home sweet home Posts: 17,553	Clearly he said penny stocks.....you bought half dollar stock. Good work! __________________ With your shield or on it. Live with honor, or die with honor. Living dishonorably is worse than death. Any cockroach can merely survive. To be human, we must put some principles of decency above mere survival.

03-09-2010, 11:36 AM	#15
mjUTfan Senior Member Join Date: May 2004 Location: Goliad, Tejas Posts: 7,274	Are they under re-organization? __________________ More guns...more deaths; it's very easy to understand: Hockeydude, 12-11-2007

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