Are You Stuck In NEW?

Discussion in 'Stocks' started by CalScholar, Mar 12, 2007.

  1. #21     Mar 13, 2007
  2. Can't wait to buy NEW on the pink sheets!
     
    #22     Mar 13, 2007
  3. Just look at Delta airlines.

    http://finance.yahoo.com/q/op?s=DALRQ.PK

    Trades on the pinks but the options are still being traded.
     
    #23     Mar 13, 2007
  4. How do you figure that someone short got "screwed over". If the stock never opened again, it would be worthless wouldn't it? In other words, any short seller would have already received the proceeds from his sale, and would not have to buy anything back. It doesn't get any better than that.

    In reality, the stock will have some value when it finally trades, that value dictated by what the company decides to do. If they file bankruptcy I would assume a value under $1.

    Your broker was full of shit my friend. He has no clue.

    I would exercise my puts if it came down to it (it may not if the stock starts trading anywhere at all, because then the options can trade). That puts you short. I can't think of any reason why you couldn't do that...it's the right of a put holder. But call the OCC and ask them.

    OldTrader
     
    #24     Mar 13, 2007
  5. Between yesterday and this morning, the stock would have traded down to a nickel. Luckily, more bad news is coming, otherwise the NYSE could resume trading when the panic is over and shares could go up from yesterday's pre-market last of 1.66.

    I called the OCC and I can exercise the puts, which I'll end up doing if the stock doesn't resume trading. But if news comes out in the next week, before the stock begins trading, that someone is going to bail this company out, then I will have exposed myself to potentially substantial losses. In other words, any further delay in trading at this point can only hurt shorts and put holders. It cannot help.
     
    #25     Mar 13, 2007
  6. It's Scottrade. What do you expect?
     
    #26     Mar 13, 2007
  7. CNBC saying its delisted from NYSE.
     
    #27     Mar 13, 2007
  8. wait 4 the restucturing plan and load up

    NEW wil get financing

    7000 employess...

    no criminal activity

    this company will survive and rebound somewhat

    l
     
    #28     Mar 13, 2007
  9. delusional
     
    #29     Mar 13, 2007
  10. do you remember a stock name "CAFE"? (which was halted for about two months before open down 60%.)

    I mean, halted into the option expiration
     
    #30     Mar 13, 2007