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Looks like a run might be in store for SFII today. This could be a week of 100% return on this stock. The price is right now at .0021 and the bid and asks are both headed up on the level 2's. Do your own DD but this stock might be a nice day trade if you are looking to make a few dollars. JMHO Good luck all Jeff
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guys just to let you know BGUSS1 sold his SFII today and is pumping IVOC everywhere I am holding my SFII as well as a friend of mine who has 28 million shares ..If you dont' believe me check out bguss1 on rb boards and see what stock is claiming to buy right now he sold his 5 million shares of SFII today killing our intraday run when it was at .003 x .0035
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quote:Originally posted by followmypicks03: guys just to let you know BGUSS1 sold his SFII today and is pumping IVOC everywhere I am holding my SFII as well as a friend of mine who has 28 million shares ..If you dont' believe me check out bguss1 on rb boards and see what stock is claiming to buy right now he sold his 5 million shares of SFII today killing our intraday run when it was at .003 x .0035
That bastage... LOL, Do you still think we are gonna move today?
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We are already moving up 40%, this stock should rebound nicely today and make a good move tomorrow. Good time to get in or average down and ride it up today and tomorrow!
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Nice run up this morning--we've been giving territory back in the afternoons; I'm thinking we might need to break that "cycle" before we see the 1 cent mark.
Still watching for news that SFII has "been acquired." It's coming...
quote:Originally posted by tigerontop: ...but just take my word for it. This was an attempted pump and dump, or was for that matter.
I think you need to learn to read your charts a little better (or perhaps look at them on a slightly longer time frame). Unless you're going to describe the spikes, then trading range, then spike again, then trading range again, etc. pattern as "multiple pump and dumps"--the action indicates that someone is accumulating shares.
SFII is a "shell" that displays the classic signs it is being "filled"--the process takes time, but once the acquiring party has sufficient shares, the merger will be announced and you will see the significant price movement.
Consider these "lulls" in the price as an opportunity to accumulate for the news--or if you're a shorter-term trader, accumulate and trade out during the next spike. (But "trade" at your own "risk"-- understand that the real money will be made when news hits the wires--you want to be holding then!)
Hate to point out an issue about Reverse mergers... But in a Reverse Merger the Public Company could issue more shares...
The reverse merger occurs when a public shell company acquires an existing private company. The shell has no assets and therefore the consideration that it gives to the seller of the private company is newly issued stock. Generally, millions of new shares are issued to purchase the private company.
The number of shares issued is so great that the seller of the private company ends up with a substantial majority of the shares in the public company. It is called a reverse merger because the seller of the private company, at the end of the process, is the majority owner of the public company.
In the end the Private Company may end up with 95% of the o/s leaving the public with just 5%.
As with most things in life... this is a gamble as well.
It should also be pointed out that the share price for the majority of reverse mergers drops after the merger.
Some of the more successful reverse mergers though include; in 1970, Ted Turner completed a reverse merger with Rice Broadcasting and grew it into Turner Broadcasting Systems. Arman Hammer invested in a public shell company in the 1950s and developed what is known today as Occidental Petroleum Corp., RadioShack Corp., Blockbuster Entertainment, Inc., Unifi, Inc. and Waste Management, Inc. can all trace their roots to a reverse merger.
In the end the Private Company may end up with 95% of the o/s leaving the public with just 5%.
It should also be pointed out that the share price for the majority of reverse mergers drops after the merger.
Excellent points overall! There are risks with SFII or any potential reverse merger target.
The "starting valuation" of the shell can be a significant factor in the price movement direction as the reverse merger occurs. If you look at the charts of some of the more obscure reverse mergers you will see substantial upward price movement as news of the event is announced; when the "dust settles"--normally after a reverse split--it is not uncommon to see a lower price, as you point out.
Once news is announced, one needs to re-evaluate the situation and decide then whether or not it is time to sell.
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