Huge mistake

truetype · Jul 5, 2018

giorgio993 said:
You guys are actually right. With the new ones trading at 18.50 i lost about 1200 which is okay
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You're making a comeback! SDRL Last: 19.80 Chg ($): 1.30 Vol: 128,984

volpri · Jul 5, 2018

jharmon said:
Burton Malkiel said, in 1973, in A Random Walk Down Wall Street:
"A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by experts"

Unfortunately giorgio993 is somewhat below monkey intelligence with respect to trading, buying illiquid and bankrupt company stocks. He might get out of this with some money intact, but that's through pure luck.
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Are we sure malkiel actually tested the monkey hypothesis out rigorously? ROFL

truetype · Jul 5, 2018

truetype said:
You're making a comeback! SDRL Last: 19.80 Chg ($): 1.30 Vol: 128,984
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Holy, cow, now it's 22.45 +3.95 (+21.35%). Giorgio rocks!

ironchef · Jul 5, 2018

truetype said:
Holy, cow, now it's 22.45 +3.95 (+21.35%). Giorgio rocks!
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With crude oil prices trending up, I am not surprised.

giorgio993 · Jul 5, 2018

truetype said:
Holy, cow, now it's 22.45 +3.95 (+21.35%). Giorgio rocks!
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Yeah man that would have been great only if robinhood had released already the new stock and gave me back the exchange ratio that i’m supposed to get back. I was wondering, how long do you think is gonna take for Robinhood to allow trading on the new stock and pay me back for the old ones?

Buy1Sell2 · Jul 6, 2018

giorgio993 said:
Hi Guys! I’m new on trading and today i think i’ve made a huge mistake. I put a substantial amount of money on a stock that i discovered emerged successfully today from chapter 11 and i wasn’t able to sell because of day pattern trade rules. On the company’s website says that tomorrow they will be issuing the new stock for unsecured old shareholders, with the same name and the old ones will be exchanged with the new ones on a ratio of 0.003 per share which no matter how much will be the new share cost, will make me lose a huge amount of money. My question is, will i be able to sell my shares tomorrow morning on pre market or at least very early after opening? I’m sorry but i’m new to this and i need help.

Thank you and i really appreciate
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Huge mistake

truetype

volpri

truetype

ironchef

giorgio993

Buy1Sell2