Anyway, a company called Jupiter Capital Company was trading at around .0002-.0003 when rumors started flying that they were a merger candidate. The price went up to about .0014 amidst these rumors. When the merger news came out, people were disappointed that the merger company wasn't a big company, and that the merger price of .005 wasn't as good of a deal as it seemed due to the fact that the shares would be restricted after the merger.
So there was a mass sell-off leading up to the merger, and the price ended up at .0002 when trading of JPHC ceased. Some people took their loss and moved on, others (like myself) decided to ride it out to see what would happen. I was in for an average price of .0010 of JPHC, which would be a 500% "gain" if we could sell our shares in the new company, PAIV.
The day after the merger, something got really screwed up somewhere, and Ameritrade allowed all of the previous JPHC holders to sell their PAIV shares, even though they were supposed to be restricted.
All of a sudden, the market for PAIV, which was supposed to have a float of around 26 million shares, traded a few hundred million shares that didn't really exist, and the price plummeted from around a penny to .001 as people rushed to dump their shares, assuming they were not really restricted, and not wanting to be the one left holding shares that no one would want to buy with all of the dilution.
Well then rumors started flying around that shareholders would be responsible to buy back the shares tha tthey had essentially "short sold" since they couldn't really sell their merger shares since they were restricted. The price went back up to around .011 as people bought like crazy to either cover their "short" position, or under the assumption that there would be a massive short squeeze that would push the price well higher than it's initial levels.
After some time people began to take their profits, and the excitement faded when the proce didn't immediately rush up into the dollar range. People got tired of holding and the price slowly dropped into the loe .005s and high .004s.
Then last week it started to slowly rise again, and then exploded this week.
Some theorize that here really is a short squeeze, and that MMs were trying to shake out as many people as they could to get shares, but now the sellers are drying up and the price is rising quickly due to the decreased supply.
Some otehrs bought simply because they liked the chart.
I have no idea what to think, though I lean towards the first one, since it seems like they HAVE to buy back the shares that were incorrectly sold to get the float back to where it should be, but really, I have no idea if that's true.
So that's about all I can tell you at this point.
quote:Originally posted by Hitman: Can u guys share some info on this stock Pr/Ect. I'm interested by reading ur posts.... will buy 2moro if i can get some info on why this stock is a good pick.... thanks Ron,,,, JB Hunt otr trk driver...... Don t get to the web often but like this mesage board.... Made money on Xkem with it and Aslo CHDT.... Thanks for your reply.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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About to hit 2 cents. I think it's become fairly obvious that SOMETHING is going on. I wonder if we'll ever find out what that something is...
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Just found out from scottrade that people are having to buy back shares and the company is about to release some good news, for the people that didnt sell off their shares.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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Woohoo!!! I made over 2k dollars on PAIV shares when all that crap was going on. Thanks PAIV. I have been there and played her but those of you still in are safe IMHO! PAIV will turn out to be a great company.
Good luck and always remember to protect your capital!!!
-------------------- I buy fast and sell faster! Posts: 2018 | Registered: Jan 2006
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quote:Originally posted by POOLBOY: Just found out from scottrade that people are having to buy back shares and the company is about to release some good news, for the people that didnt sell off their shares.
Maybe there will be no restriction. Wouldn't that be nice.
Posts: 35 | From: Jersey | Registered: Feb 2006
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Which company is going to release good news? PAIV or Scottrade?
quote:Originally posted by POOLBOY: Just found out from scottrade that people are having to buy back shares and the company is about to release some good news, for the people that didnt sell off their shares.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Has anyones jphc shares changed over to paiv. I have scottrade and it still shows the jphc# symbol and no price with the original number of jphc shares.
Posts: 30 | From: Va | Registered: Apr 2006
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Look at the amount of big buys there are. Man the MM's are going to have to squeeze real hard to pull this off.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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My honest opinion is that no one who bought JPHC and held is going to make much, if anything when all is said and done.
I bought at .0010 and was thinking that all PAIV woul dhave to do was keep from going down 80% in the next year and I would make money.
However, on the day the shares flooded the market prematurely, the price tumbled over 90%. I foresee the same thing happenening whenever the shares are finally allowed to be traded. I sincerely hope that I am wrong, as I now have close to $100,000 worth of PAIV, but I'm thinking when all is said and done I'd be lucky to get my initial investment back.
quote:Originally posted by yolkarmy: the question is where will the stock price be in a year when we can sell.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by cowlowski: Has anyones jphc shares changed over to paiv. I have scottrade and it still shows the jphc# symbol and no price with the original number of jphc shares.
scottrade will no longer trade them..thankfully I only had a few hundred bucks worth..call Scottrade and ask them to get the scoop on it...
-------------------- I teach in the middle of a cornfield-Do your own DD and don't base your investments on my opinions Posts: 599 | From: AmishLand, PA | Registered: Jan 2006
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I called Scottrade the other day and they said something to the effect that they're not doing anything until they have the proper paperwork in their hands, and that should be sometime in the near future, with no clarification on what that means.
quote:Originally posted by cowlowski: Has anyones jphc shares changed over to paiv. I have scottrade and it still shows the jphc# symbol and no price with the original number of jphc shares.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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I have scottrade and have bought and sold the past couple of days, no problems with them. I was told at scottrade that this is going to climb for awhile because of the amount of shares sold off. Ameritrade is going to try and make the people that sold off their shares pay for it, but i dont see that happening. Good luck to all who is buying this, this is about the only one out there.
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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I entered my restricted shares in my watch list to watch their future value, now at over $14,000 hope this holds up or gets even better
Posts: 942 | From: Wisconsin | Registered: Jan 2006
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With the restriction on this stock, is it restricted from the day of the merger or whenever everything gets finalized?
Posts: 35 | From: Jersey | Registered: Feb 2006
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I am proof that your second point isn't exactly true. I called them the day the shares were sold by Ameritrade and thy said I could sell them if I wanted to, but I would be responsible if something changed in the merger agreement. I sold them at .001 or so, and then they told me that I'd have to buy them back when they got official word on the restirction. I bought them back at an average of .0018, costing me a few thousand dollars on top of the money I lost on JPHC. Those were a fun few days. Fortunately I bought more than I needed to cover, so I made a decent amount back when it ran up to .01. I'm still down in the whole fiasco though.
quote:Originally posted by db: AMERITRADE illegally sold restricted shares and have to cover
Scottrade never allowed the sale of restricted PAIV shares
PAIV has been on the SHO list for awhile now
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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I asked this question specifically when I called PAIV one time. I forget the exact answer, but something like the restriction is from the time the TA delivers the certificates. I don't know if that has happened yet or what.
quote:Originally posted by GSilk316: With the restriction on this stock, is it restricted from the day of the merger or whenever everything gets finalized?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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This thing could run to .03 in the next couple of days. Hang on to what u got!!!
Posts: 155 | From: WEST TEXAS | Registered: Apr 2006
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PCola77, I called Scottrade the first day shares were being sold by ameritrade and was told they were restricted and I was unable to sell and if they would have let me I would have thankfully I couldn't - to me if scottrade allowed you to sell you shouldn't have had to buy them back at a higher price ouch! maybe you should have filed a complaint
Posts: 230 | From: florida | Registered: Feb 2006
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I did call and "complain" to the guys at the local brach, and then they gave me the number for their compliance department. They said that they were covered because he explicitly told me that I would be responsible.
I don't doubt that I could fight and win, since they basically allowed me to short a stock, which I, as an individual investor, can't do.
My personality won't let me do it though, since I knew the risk I was taking. Same reason I've never fought a speeding ticket even though I am sure most of mine would have been at least reduced.
quote:Originally posted by db: PCola77, I called Scottrade the first day shares were being sold by ameritrade and was told they were restricted and I was unable to sell and if they would have let me I would have thankfully I couldn't - to me if scottrade allowed you to sell you shouldn't have had to buy them back at a higher price ouch! maybe you should have filed a complaint
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Im not sure if this question has been asked before, but I'm still showing JPHC shares in my Ameritrade account, does anyone with TDA have their PAIV shares? Will they be converted automatically or do I have to do something
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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I have Ameritrade and called yesterday. I was told there isn't anything I have to do right now, Ameritrade is taking care of it for now. They are in the process of doing something with the paperwork to obtain the certificates for PAIV. When the process is complete, PAIV will show up in my account with the proper number of shares, but with a zero value attached, since they cannot yet be traded. When the shares become tradable THEN I will have to fill out an application. Sorry, I don't remember the specifics here, but I know I can't sell any of my restricted shares until paperwork is done on my end, AND there is a fee involved. I believe it was around $260.00, but it may have been in the $300's. ( I never asked if this was a flat fee, or if it was based on a percentage.)
Posts: 4 | From: New England | Registered: Mar 2006
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I sent an email to Ameritrade about who has to do what to get the change from JPHC to PAIV and here is the reply I'll paste it:
At this time, holdings of the former Jupiter Global Holdings are represented by a non-negotiable contra position pending the delivery of the restricted shares due. This position is indicated in your account as N/A. TD AMERITRADE has not received the restricted shares of PAIV to post to your account at this time. An anticipated payable date is currently not available. The DTC (Depository Trust Company) is currently working with the agent of the company on receiving this distribution. Once TD AMERITRADE receives the allocation and instruction to pay shareholders, entitled accounts will be updated to reflect the distribution. We appreciate your patience.
Laurie W. Reorganization and Safekeeping, TD AMERITRADE Division of TD AMERITRADE, Inc.
Posts: 66 | From: New Richmond, WI USA | Registered: Dec 2004
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HUMMMMMMM? Wonder where my buddy Repoman75 is... said this stock was ganna tank.. HA HA Wrong again repo!!
-------------------- "Remember... no matter where you go, there you are." - Mad Max Beyond Thunderdome Posts: 261 | From: BFE | Registered: Jan 2005
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Im loving it, hope it keeps up, anyone know why its going up at least 40% in the last couple of days? I can't really find any news.
Posts: 317 | From: Iraq | Registered: May 2006
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hang in there PCola....i have a feeling couple years down the road, PAIV will be twice as much as now and we will sell our shares and make the hundreds of thousands!
posted
Only thing I regret is I sold half my shares of JPHC to have extra money to spend and took 50% loss from whr I bought at. Another 7.5 million shares of PAIV would be really, really nice right now. lol
Posts: 379 | From: Peoria, AZ. | Registered: Apr 2006
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