PHIL just filed with the SEC a $1.5B USD infusion of cash from a fixed interest loan from Oman, with a 3 year grace period. How many OTC stocks have ever secured $1.5B loans? I doubt it's very many and I'm sure none of them were trading sub-penny. PHIL is trading at .0066 and also has to sign a definitive deal for the purchase of 70% ownership in $100M company 5 Grains by the end of this weekend. The next few days will be very interesting.
More laughs than a barrel of stolen NFT monkeys: https://twitter.com/coinerstakingls/status/1455121623007182851
From what I've seen, BBBY has a $1b buyback program they announced.... a big "fuck you" to the shorts. Because there are a ton of ETFs and reverse swaps that have GME and BBBY in the same basket, when BBBY pumped 80% yesterday on that news, margin was harder, so they have to cover, but that dragged GME with it.
Combine that with all the Apes DRSing their shares (direct registering with the Transfer Agent, Computershare), which removes them from the DTCC pool (reduces the number of shares available for trading), and the fact that GME is expected to announce a huge NFT marketplace at their earnings this week (the joint project with Loopring). There's lots of reasons this week could be very spicy this week. It's also why Loopring is going for a bit of a ride right now too, on GME's coat tails.
It's really amazing how a ton of this stuff is becoming more visible. It seems like a very long term approach that shorts have taken to kill off companies, and hide the taxes. Honestly, if it wasn't for GME and the Apes saying "fuck you" and constantly buying the dip and holding, they probably would have gotten away with it this time as well. Instead, they are looking like they may lose it all. I mean, there's a reason Gary (SEC Chair) is putting out reports and videos on how not to worry if your broker goes bankrupt... and how all these new laws about the OTC markets, and old companies having to be wrapped up and closed down, with positions closed... I mean, look at the share price of Sears for the last 6 months... HUGE movement, all because that's where the shorts were hiding so much owed cash. (Hint, you never have to pay tax on a position you never close... and they have huge boneyards of old companies just sitting on the exchange doing nothing, that were forced to be cleaned up in the last few weeks.)
Sorry, not Sears... BlockBuster. Look here... And it was tied to GME... I mean, go compare GME to Blockbuster charts.
@effinshenanigans and @Popped Cherries , just checking on y'all. You sell like a paper handed bitch today?
My sell order is half at a penny, half at .10. I have looked at it a couple times here and there, but I'm far too experienced in small cap biotech stock plays to watch day to day swings. *Edit - I did hear that guy with the 5bn worth of Shibu who it appeared lost his wallet or died has started to unload his position. I think he's been selling 10million dollars at a time.
Still dropping today, about 14% as I'm typing. It's purely out of stubbornness that I didn't sell on the way down when it was showing no signs of turning around. I guess I really want to say I never sold if it does something great eventually, like some demented financial badge of crypto honor.
I'm asking for help picking my next trading app. I want an app, if there is one, that doesn't tie up my funds after day trades. Webull, for example, if you want to trade with $8-10k a day, you really need like $24-30k because if you sell something you can't use the funds immediately. It's trade day plus 2 before your funds are settled. Are all apps like that or some you use that don't do that?
You're correct. It's a law, SEC regulated 3 day settlement. I found it as soon as I started researching myself. Guess I need to up my cash in my account or go margin. If I want to trade that much...
The King is back: https://www.reddit.com/r/wallstreetbets/comments/qxgyxf/retirement_accounts_in_clown_economy/
I didn't miss it, I assumed this crowd was smart enough to get the joke without having it explained to them.