Re: Closing Price: 0.0030!/Plow
in response to
by
posted on
Jul 22, 2010 11:10AM
As we can see this morning, yesterday's close means little.
Time & Sales |
Price | Size | Exch | Time | |
0.0033 | 50000 | OBB | 10:19:39 | |
0.0032 | 75000 | OBB | 09:42:31 | |
0.0031 | 100000 | OBB | 09:37:38 | |
0.0033 | 5000 | OBB | 09:30:13 | |
0.0034 | 590000 | OBB | 09:30:09 | |
0.0034 | 250000 | OBB | 09:30:05 |
Now on a reverse split, it is always possible. With some 2 bln shares outstanding, there are pros and cons should it happen.
I have a stock that was being manipulated by the MM's to the point that the CEO asked the share holders in a company letter to convert all shares held in street name by a broker to paper certificates. I had 30,000 shares at the time and did what he requested as did the majority of owners. It solved nothing, and a couple or so years later, they did a 1:20 reverse, ending me up with 1500 shares. Note: there was no proxy vote, thus my comment on that topic.
The stock is currently at .025, so worth $37.50. I thought it would be a good idea to convert them back to street name, so called the broker asking the procedure, and he explained what to do, and to bring them to his office with a check for $90.00 to cover the processing fees....I hung up on him. The stock is ESSE.
Then, went on line and opened an account with Fidelity and transfered the entire brokerage account, which Wachovia charged me $129.00 to close, and the Fidelity guy said he'd handle the conversion free. The paper certs are still in my safe...LOL!!!
On .003 vs .0033 @ 1 mln shares, we are talking about $300.....
In the mean time, still buying a little here and there.