Serves my $200 right for not doing any DD
Posted by The Insider on :
It's impossible to lose 1400% in the stock market.The most you can lose is 100%. If you put in $200 the most you can lose is $200-- which would be 100% of your money.
Posted by cvrockies on :
Sorry I meant lose 1400% PPS
Posted by cvrockies on :
PS technically it isnt impossible if you are a really bad shorter
Posted by STAR GAZER on :
"it isnt impossible if you are a really bad shorter."
Hey, you shouldn't talk about midgets that way.
Posted by STAR GAZER on :
The company originally was involved in high speed inernet access for rural markets in norhtern California where DSL and cable service were not available. However, it wasn't profitable and so they teamed up with Genesis Electronics which, after years of research and develpement, had developed a small solar powered recharger for hand held cell phones that is more efficient than other similar devices and delevers maximum power transfer from its photovotaic cell. They obtained one million dollars in financing from an institutional source and have received a $2,700,000 order from Digital Wireless for their Sun Blazer mobile electronic power holster for cell phones. And now they are developing a Sun Blazer that will recharge iPods. http://www.stockhouse.ca/news/news.asp?newsid=2739716&tick=RWLN
They have just finished a 400:1 reverse split which they had previously announced: http://www.stockhouse.ca/bullboards/viewmessage.asp?no=9534000&t=0&all=0&TableID=1 and as of 05-27-05 they have 1,011,937 shares. Most stocks fall after a reverse split and this was no exception. What is the exception is that this looks like it is a solid company, and so the drop will probably only be temporary, and since there are fewer shares now, any buying pressure will tend to make it easier for it to climb upward. And so, all things considered, this could be a very profitable buying opportunity. After a reverse split stocks tend to drop steeply, but then level off and it is at that point that you can buy in. I don't know if we have reached that point yet and so I will watch it for awhile. But if it stays in this area and doesn't start dropping again, I may put in a buy order. I did own the stock, but sold for a small loss after they announced that they were going to do a 400:1 reverse split. I have owned two other stocks that did reverse splits and lost big time on both of them. I may get back in this one at this price and if it goes up, possibly way up, I may end up making enough money to cover my previous reverse split stocks.
Posted by Golf57 on :
does anyone know of a discount brockage house that lets you short penny stocks?
Posted by g-invest on :
Speaking of which, another thing you guys need to be aware of is something called "reverge mergers", where a company that wants to go public but can't afford an IPO (or chooses not to) instead buys a controlling interest in a decent company and uses their 50.1% or whatever interest to "acquire" their own company. They then drastically change the focus of the dying company into promoting their own company. Many a stock has done this. I think even QBID kind of did this if I read my DD on PSTS and GAAY correctly.
Posted by STAR GAZER on :
I think that you are not allowed to short penny stocks. Just my 2 cents worth. Would have been a great move. At .018, the stock is down another 55% today. Since the reverse split it is down 97.5% and if it went down to a penny a share, it would be down ~ 99% (.007 or 7/10th of a penny would bring it down to an even 99%) If you bought there and it went back to its post-split price, you would make $99,000 for every $1,000 that you invested. ... IF it went back to the original price on the day it split.
Posted by STAR GAZER on :
I think that you are not allowed to short penny stocks. Just my 2 cents worth. Would have been a great move. At .018, the stock is down another 55% today. Since the reverse split it is down 97.5% and if it went down to a penny a share, it would be down ~ 99% (.007 or 7/10th of a penny would bring it down to an even 99%) If you bought there and it went back to its post-split price, you would make $99,000 for every $1,000 that you invested. ... IF it went back to the original price on the day it split.
Posted by STAR GAZER on :
Well that's interesting. I guess that the powers that be liked what I had to say so much that they posted it twice. Either that, or I hit the enter button twice before it posted.