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SSSU and QBIT used the NobO list pr and because they did well and dumped a bunch of shares... now every CO is comming up with the NOBO list order...
Watch it tomorrow 2 or 3 more PR's on NOBO list... This pinkies catch on fast... IMO....
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These have all seemed to spike instantly and then drop back down a bit. If you don't get in the EXACT second they issue the PR, you will most likely lose money. UNLESS the PR actually shows numbers from the NOBO, as opposed to just saying tat they have ordered one. If a NOBO is released showing 20 million shares owned and a 10million share float, well, that would be worth buying.
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The names of the ultimate beneficial owners of street name shares - i.e., the customers of the brokers and banks who have deposited the shares with DTC - are maintained by the brokers and banks, not by companies themselves. Recognizing that this system left companies without direct contact with a large proportion of their beneficial owners, the Commission adopted rules in 1983, which went into effect in 1986, requiring brokers and banks to provide companies with lists of "non-objecting beneficial owners" (or "NOBOs") who did not object to having their names and addresses supplied to companies.17 Objecting beneficial owners (or "OBOs"), which constitute an estimated 75 percent of shares held in street name,18 still may be contacted directly only by the broker or bank, or its agent. Although companies may mail proxy materials directly to NOBOs, as a practical matter they never do so, because current SEC rules require companies to forward proxy materials through brokers and banks regardless of whether they are also mailed directly.19 Therefore, companies only use NOBO lists to mail out supplemental materials, annual reports and quarterly reports, which do not have to be mailed through brokers and banks.20 Furthermore, because only the brokers and banks are legally entitled to vote shares held in street name, companies cannot use NOBO lists to enable beneficial owners to vote directly with the company.
-------------------- The difference between genius and stupidity is that genius has its limits
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quote:Originally posted by Skyman: After a company obtains the NOBO list for its company, then what good is it? What can they do with it?
the NOBO list will show how many shares are short if any, if it is alot then the company can do things to force shorts to cover causing the price to go up like PAIV and others
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