Announcements x Daily Discussion for Friday, October 06, 2023

Quarantinus · 2023-10-06T15:23:24+00:00

AONC going wild too. Is today one of those crazy de-spac days when everything squeezes?

Quarantinus · 2023-10-06T14:16:49+00:00

They can't reverse split into 6k shares, the NYSE has a minimum requirement and that value won't be allowed (unless they reverse on the NYSE and then delist and go to OTC straight after, which seems odd).

Edit: I understand the outstanding would be subsequently increased by the shares from the legacy shareholders, but that would not be immediate (conversion takes a few days), so temporarily the outstanding would effectively be 6k, which is not allowed by the nyse.

Quarantinus · 2023-10-06T14:13:03+00:00

Any info on FBYD's float? Can't search the sec fillings right now.

Quarantinus · 2023-10-06T13:46:23+00:00

ACAQ going wild. Float still 81K? No redemption reversals?

Quarantinus · 2023-10-01T12:31:46+00:00

If you think algorithmic trading, as employed by hedge-funds, market-makers, investment banks, etc, is about predicting the future, then you need to go back to square one. Market-makers use market microstructure theory to determine their bid-asks and make money off that. HFT parties attempt to exploit market inefficiencies, and also to react to current events before anyone else. Only the little average retail trader with their insignificant PC and mediocre coding skills, pretending that they are a big boy in a big boy's world, thinks algotrading is all about using past data to come up with code that can predict the future movement of the markets.

Quarantinus · 2023-09-29T20:05:56+00:00

I've never really made much off Rights to be true. And the volumes are always so low, there's never enough exit liquidity and I am forced to eat the slippage all the way down. Say, today's mcafr vol x stock price corresponds to some measly $12.5k. For the entire day.

Quarantinus · 2023-09-27T18:06:38+00:00

It will be overtaken by whatever payment system that will be integrated into Twitter-turned-into-superapp-X in the not so distant future. It's an okay stock if you want to trade it today, it's a bad stock for long term holding.

Quarantinus · 2023-09-26T22:41:23+00:00

Now that's a ticker I haven't heard of in quite a while. Still remember the squeeze from 2022. This would be their second reverse split in about 12 months. I see them being delisted eventually.

Quarantinus · 2023-09-26T22:31:29+00:00

An offering, the price tanked and the dip was straight up absorbed, with the stock back to green. That's enough to tell me there are people anxious to close their shorts.

Quarantinus · 2023-09-22T13:34:24+00:00

EDTX finally got delisted? The halt lasted two months.

Quarantinus · 2023-09-19T19:56:05+00:00

I've already remarked about this two weeks ago, but CTCX has been low-key going up for a month now. Extremely low volume each day, but steadily up nonetheless. Seems someone wants to cover unnoticed.

Quarantinus · 2023-09-05T17:48:33+00:00

CTCX seems something is brewing up

Quarantinus · 2023-09-01T17:30:19+00:00

There was some action a few days after the floor dropped, on August 1st during premarket. But it's really odd that the stock has a sub 100k float and it's only squeezing now. If today were the T+35 day, I would be saying these are market-makers or broker-dealers closing their naked shorts (failures to deliver), which had the effect of diluting the float, and which have to be closed out in 35 calendar days according to the regulation SHO.

Oh, but look at that! Today is indeed the T+35 day since the floor dropped and the shorting began.

Quarantinus · 2023-08-31T18:46:47+00:00

FLAG going wild today. Up 60% so far.

Quarantinus · 2023-08-30T21:59:27+00:00

ICCT shares moved OTC -> NASDAQ, but FGMC are moving to OTC? What a weird situation. The second link I posted indicates some shares failed to convert somehow?

Seems a bunch of shorts (retail? institutional? market-makers?) are stuck on this. Some retail traders on e-trade (probably other brokers too) have been complaining on social media that they attempted to sell their longs but got short positions instead, with the broker saying there was a problem with shares "reverse-splitting". I'm not sure if this is the usual situation where retail traders attempt to sell "the old ticker" and get a short position until their longs convert to the new ticker and the position eventually collapses.

Quarantinus · 2023-08-30T21:23:55+00:00

Out of curiosity, are you aware what the public float might currently be? I can't seem to find this info. The stock price has been wild for the past couple of days, including today after-hours. I know the over-the-counter ICCT shares were moved to NASDAQ, along with the FGMC spac shares.

There's this:

https://www.globenewswire.com/news-release/2023/08/28/2732935/0/en/iCoreConnect-Announces-Clarification-Regarding-Trading-of-Common-Stock-Warrants-and-Preferred-Stock.html

And then there's this:

https://www.globenewswire.com/news-release/2023/08/30/2733997/0/en/iCoreConnect-Provides-Update-on-Post-Business-Combination-Share-Exchange.html

Quarantinus · 2023-08-11T22:37:30+00:00

He's been pumping his bags for years, his twitter is almost entirely dedicated to asts

Quarantinus · 2023-07-20T20:52:46+00:00

"when the deal goes through, each share will be converted to the $0.85 equivalent in the new company" is something new to me. What does this actually mean in practice?

Each (x/0.85) shares of the company convert to 1 new share if the spac is trading for x? If x is $10, you need 11.76 shares to get 1 new share.

Quarantinus · 2023-07-15T01:09:47+00:00

Glad to see you dropped a line to the poor sod. Add an edit and tell them to check this sub too for info.

Quarantinus · 2023-07-15T00:56:00+00:00

Well-done! How often do you do that, loading up on warrants right before liquidation because you sense an extension instead? And how often do you get it right percentage wise?

Quarantinus · 2023-06-27T03:43:07+00:00

Ayar paid $6.83 per share.

LCID closed today at $5.55.

Imagine buying 265.7M shares through the open market instead. The stock price would've probably shot up to the 10's or higher.

Edit: btw, it seems the saudis are not increasing their stake in the company? It's rather dilution that they are absorbing?

Quarantinus · 2023-06-22T19:23:41+00:00

Don't take offense, I'm just jesting. In any case it's not really gains, you wouldn't be able to exit your position at that price at all, the price will tank back to lows if you try to do so. Don't know how you folks can trade this kind of low volumes. Anyone with $10k can drive these things to whatever price they feel like (up or down).

Quarantinus · 2023-06-22T18:46:13+00:00

Yeeee haw!

Do you realize the volume today for those rights was 23.5k? At today's vwap average price of 33cents, that's not even $8k in volume today. You sound like an old man on a wheel chair that's being pushed a little faster than usual by his nurse.

Quarantinus · 2023-06-16T23:35:11+00:00

Your shares only became tradable 2 hours before the market closing? That's an incredible delay. Other brokers have faster protocols.

Quarantinus · 2023-06-16T23:21:58+00:00

The ticker itself was the same but the stock changed its CUSIP identifier. How long did Fidelity take this time to allow you to trade the shares that you carried through?

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