Despite the contents 8-K filing, I'm wary of shorting stocks below $100 million. If the market cap is about $45 million at a share price of $1.50 then I'm worried that the Yahoo messageboard type crowd will buy up the stock at this level regardless of any Chapter 11 announcement. This is particularly true given the almost non-stop drop from $7 in mid October. It sets itself up as a potential "GNP" praetorian2 pattern. How did you compute the $10m to $20m market cap estimation?
Checking out ATP PCX and AONE, that is usually the stable levels of bk market caps. ATP and PCX have similar balance sheet sizes as OSG OSG is not expected to inspire as much as irrational beliefs as AAMRQ and Kodak did. Nobody knows shit about OSG
Good points - thanks for the advice Daal. It's looking increasingly unlikely I'll get to short more OSG above $2. Still I have my short calls from last week.
http://www.presciencepoint.com/wp-content/uploads/2012/10/actv_strongsell_10-2012.pdf ACTV strong sell. Adding to garbage index
Short TAGG if you are able to, stock is going through a massive spam and promoting campaign. Market cap got inflated to $130M+, yet they have no revenues, a history of losses and stock issuance Stock has already been halted in Canada and today in Germany. Only the SEC allows this ponzi/greater fool game to go on in the US in a month or 2 this stock will be under 10 cents
Covered FMCN I don't like how irrational these people are being http://professional.wsj.com/article/BT-CO-20121102-702565.html?mg=reno64-wsj