Discussion in 'Retail Brokers' started by seasideheights, Jul 11, 2008.
Does anyone know of a broker that has short shares available for IMB?
IMB? It's trading at 10 cents
did you know that $100 to 0
10 cents to zero
is the same return?
no need to thank me
Did you know a 1 day short squeeze from $100 to $500 is nearly impossible, but a 1 day short squeeze from 0.10 to 0.50 is highly probable?
Shorting a $5 stock is dicey, but shorting a $0.10 stock is stupid even if both end up at 0.
Even if you were to get a borrow on IMB, the margin requirement would be around $5/sh. And that's even if your broker let you even short something under 5 bucks.....
I may be wrong, but IndyMac ceased to exist. Shareholders on record as of July 11 will be eligible for any payout after depositors, bondholders, and other creditors.
FDIC Establishes IndyMac Federal Bank, FSB as Successor to IndyMac Bank, F.S.B., Pasadena, California
IMB is a holding company. One of their subsidiaries was siezed by the Feds. The holding company still exisits even though it is essentially worthless.
A good comparison in what happened with NetBank. Although the banking subsidiary was siezed by the Feds in 2007, the holding company remains publicly traded today. The stock trades on the Pink Sheets under the symbol NTBKQ. The stock trades at 1 cent.
It is better to short DSL (Downey Financial) then IMB if you want to short something like that. DSL I think is on the same path.
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