Penson (PNSN) stock down on heavy volume

http://www.reuters.com/article/2011...feedType=RSS&feedName=financialsSector&rpc=43

 

The only rational thing to do when a firm's solvency is in question is to wire ALL the money out of the account.

Segregated funds don't save your ass in all situations. If in doubt, get out.

 

Sure seem like quite a few brokers use Penson to clear, like scottrade mb not very many self clear IB does.

 

Agreed ... no other way to proceed.

I would add just two additional points:

1) Have them use a Fed Wire NOT ACH.
2) Continue to call them until you get a Fed wire number. Each wire is assigned its own number and it will help your bank track it if needed. Most banks will not even discuss an incoming wire unless you can give them the number.

 

and the trading volume is like 10% of 2007 levels. retail trading peaked in 2006/2007/2008.

where do you come up with these numbers that there is a 90% drop from 2007? sounds absurd.

 

I have heard that Penson may be going bankrupt.

 

Really? What analyst said that? How is the haircut on a $45MM bond forcing bankrupcy and how would you have such information?

 

Pension (PNSN) share price looks like it is headed for zero (low of 1.15 and close of 1.42 on 10-03-11).