lol staying above that 50 ma has been the rub all the way from the $4's - touches down & usually bounces up quicker than it has this last time but am not the most person either
NETE looks good for a trade ($7.9M market cap, $59M sales and growing) -- https://finance.yahoo.com/news/seethruequity-issues-company-net-element-130000234.html But what's this mean? "NETE received an update regarding its listing status on the Nasdaq Capital Market. The company has been given until October 20, 2017 to regain compliance. Currently, NETE shares trade below the minimum bid and also the company's shareholders' equity is less than the $2.5mn minimum requirement. Management stated that it is working with the Nasdaq to present a case to regain compliance. We would expect these activities to include a capital raise and possibly a reverse share split, depending on market prices as the deadline approaches." It sounds like they will dilute shares, but how would that raise shareholders equity? I thought all that does is raise # of shares.
Crazy - just bought a couple swings and when i tried to place order for 1 a box popped up telling me i had to buy in 5 cent increments which was not what the ask was saying. On phone with broker and some sort of pilot program via Finra but had him check level 2 & he saw what i was seeing & that 5 cent increment was not applying to everyone - what gives with that?? forgot to say, i got the ask price i was will to pay.
HMNY looked like it might break $10 but shorts took over & too afraid to hold this thing so out again with a quick 50 cents. AND QBAK over $6 now
Directors may vote for (10-1) reverse spilt to increase share price to approx. $8.50 (as of today); then, vote for a secondary at the post-split price ($8.50) and also offer warrants, etc. to raise capital. So, the "shares out." shrinks from 19M down to 1.9M (non-dilutive). For the secondary, they could offer 1M shares @ $8.50 which brings in $8.5M for working capital & increases shares out. to 2.9M (dilutive). So, they can do both: a reverse split & secondary. However, if anyone takes the time to calculate the cash-burn rate, they'll figure out that this is a "band-aid strategy" to meet listing requirements and give the company a cash injection. The dilution of shares usually doesn't occur to most investors until earnings come out, and then they'll see the effects of 30% more stock having been issued.
Good post & NETE has used this "band-aid" fix already b/c thought i read something about them doing r/s etc last year or maybe it was the year before?
lol down a/h which is how it usually starts so not excited yet. Low float that makes nice moves on very little vol but also comes with wide spreads @ various times too ...
on NETE - right... it's kinda typical that a company swamped in debt will add on more debt to keep going; here's the financial picture as of 6/17 (gulp): http://quotes.wsj.com/NETE/financials - now watch, it'll go to $1.50 tomorrow - lol
LOL - you sound somewhat like me after posting about IMGN. If they are going to be diluting then they probably do want to pump the stock up to lure in some unsuspecting victims, yes?
finally finished stock stuff & few on watch not already listed >> ELF ( bottom play) - XONE - + 2 of the biggest market losers >> AXON - VSAR
Announcement came out overnight explaining the climb. They divested in some companies that were money pits. Up again this morning. The fund managers probably already got theirs. But if scalping, may be worth a watch today to cash in on whats left of the euphoria.
back in VERI again - unreal stock!! No surprise that i sell IMGN & then it goes over $7 AND looks NETE over $1 so just might hit that $1.50 Neil...
Morning VNET came up in scan last night & looks like it would have been nice short. Saw your thread & think i remember your name from HSM so were you around in 2004/05/06 or somewhere around that time frame. And if not then welcome back anyway!!
BDRDF: $1.62 getting slammed over Boeing's lawsuit; goes before international court who will probably strike down ridiculous penalties imposed by US Court. Sticking with it.
