posted
Symbol change is the symbolic form of saying MERGER.
Merger with Blackout Media means FCDH has just acquired a much larger position in TFN and is much more likely going to be able to help broker future deals with......say.....American cable companies.
All this is IMO of course.
The Bigfoot
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posted
Understanding the media, but totally dense on this side of things please forgive this stupid question (and yes, there is such a thing).
With the name change do brokers such as e-trade pick this up and our accounts automatically so that when we check our portfolios we see what we have under the new name? Again, I know this is kind of dumb, but I don't know.
posted
Sorry dude. Shares of FCDH you own are in your boker's possesion. If the MMs, or anyone else have been short selling or naked short selling (and they have been), they will have to deliver those shares now. The current FCDH shares will all be returned to the company and replaced with shares of the new stock. So, we should be seeing any 'shorts' scampering to cover said shorts.
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posted
Im thinking ths might be going back down as of Monday on the new ticker symbol. Is this 50% up day due to the swing traders taking advantage of this move?
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posted
so if we can't trade it for a few days how is volume going to be any good? Can people still enter the stock during that period? Thanks...
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posted
Let me clarify...you won't be able to sell your current shares. You'll still be able to buy BKMP. It'll take a few days to get your shares converted.
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posted
gotcha... thanks tech1.... Wow, on my level 2's there are HUGE buys coming through now. Lot's in a row, this thing has to budge up to .001 soon!!!
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posted
What I want to know is...what is going to happen to the sneaks that NSS'd this stock if they don't cover by the symbol change? Seems to me it is likely some of the shorters out there probably aren't paying much attention this afternoon after such a dull morning. Anybody know what happens if they don't cover in time?
The Bigfoot
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posted
Don't quote me on this, but if they don't cover, they have to pay the cash value of the shares, buying straight out of inventory. I'm not 100% clear on that, since I don't short. I think there're extra fees involved as well.
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First Canadian American Holding Corporation Announces Further Negotiations With Blackout Communications Wednesday December 7, 9:00 am ET
TORONTO--(MARKET WIRE)--Dec 7, 2005 -- First Canadian American Holding Corporation (Other OTC:FCDH.PK - News) announced today that it is in discussions with Blackout Communications to acquire additional interest in The Fight Network and its related media assets. ADVERTISEMENT
"Since our change in direction this week with the sale of our other assets, we have begun talks to become a more significant shareholder and player in Blackout Communications," says Sandy Winick, president of First Canadian. "We see our long-term goals to make The Fight Network and its stable of assets a major focus of our company."
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posted
Shorting is when you sell shares you don't actually have (borrowing from your broker) at a high price, on the speculation that the price will drop. When it does drop, you buy those shares to repay the broker. Naked Short Selling is when you sell shares that don't exist.
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VERY basically, if you have a margin account set up you have the ability to short sell a stock.
Short selling is when you sell shares of a stock that you don't own because you predict the pps will drop. If it does then when you buy back the "shares" that you sold out you make money.
Very Risky, not totally ethical in some peoples books also.
Gets more complicated from there.
The Bigfoot
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posted
gotcha... i understand margin and it sounded like this was similar. I just thought there were a lot of smaller pennies like this that you couldn't use margin to buy. I guess short selling is the way around that.
By the way, I put in another buy at .0009 to see if they'll fill maybe. Looks like they're only giving in to .001's right now...
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posted
Well since the bid changed from .0008 to .0009 I don't think i'm gonng get anymore at .0009, so I changed my buy order to .001. Wonder if it's still a good buy at that price. Guess we'll see!
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