I have been lurking around here for quite awhile and have learned alot from reading many of the posts here. This place is a wealth of information. I know that many here look down upon or do not take microcap/penny stocks seriously at all. And I take anything that I read on those pennystock boards with a huge grain of salt(there is alot of BS flying around there and you don't know who or what to believe). But, I do respect the opinions of most posters here and would like some input on this stock if you can. The company is Q Television Network(QBID). I have been following it for almost a year now and a few months ago I puchased some shares(nothing I can't afford to lose) to go along with a couple of "big board stocks" I own. I think that this network definitely has a market waiting out there and maybe it's time has come. They have been making all the right moves in the past year, carrier agreements with Time-Warner, RCN Cable, and Cox Communications, hiring experienced staff, securing the rights to next summer's "Gay Games" in Chicago, and they just purchased a new studio in Burbank, California. What I understand everyone is waiting for is the completion of an audit as there has been speculation about dilution, naked shorting, market maker manipulation, etc. You name it, everyone's got a different reason as to why the stock is not "Taking Off". This morning they released this PR, http://biz.yahoo.com/pz/050829/84709.html and the stock is up 15 to 20% today and the people on those penny boards seem disappointed that it hasn't gone "to the moon" yet. I would greatly appreciate it if someone here with much more experience could take a look at this company in their spare time and give me their honest opinion, whether good or bad. Like I said, I think the idea of a gay/lesbian television network is a good one right now, but what troubles me is the whole pink sheet listing thing. Thank you for your time and for what I've learned from Elite Trader in the past year.
Sorry, I asked a couple of weeks ago if penny stocks were not allowable discussion and were told it was OK. And I believe there was a thread about this last year. I'm just looking for the opinions of people I could trust a little more than those penny boards. If this is not allowed, PM's would be appreciated. Thanks.
I sent you a PM, but I also took a look at the company as you requested. From what press releases the company has put out, I get the idea that they are or are wanting to become a television studio for the "Gay & Lesbian" community. If that is true then their market has tremendous potential, since most in those relationships are dual income high earnings people without the expenses normally associated with a traditional family. The problems with the company that I see is the enourmous amount of shares outstanding. This fact alone allows naked shorting, but even more so on the pink sheets. The value of the company will not get recognized until they move at least to the BB where they are required to post financials. Plus possibly reverse splitting the stock. While the company has these problems and if you believe what the company says, the opportune time to pick up shares is at these or lower levels. This company may be another Turner Broadcasting in the early stages. Hope this helps!
Thanks for the reply da-net. So I would guess that most investors/traders would stay away from a stock like this no matter how much potential they show, simply because they are a pink sheet and they don't file with the SEC. Is this correct? And if that is so, then if they were to move off the pink sheets to the OTC would that then get more people to then take them more seriously thus that may cause a jump in the PPS? Thanks
I am not sure that you can make a case for that statement. I know of one group that trades quite heavily in pink sheet stocks. They must be doing well since the group is growing and I know a few of the members, one that is extremely adept at technical studies. There are some on this board that seem to be extremely pessimistic of low priced shares, why they are I do not know. There have been instances where that is both correct and incorrect. What generally helps when they move from the pink sheets to the bulletin board is that now more institutions start taking them serious, and acquire substantial positions in them. You can view this at finance.lycos.com Those institutions look very hard at the outstanding and authorized stock counts. They also look at the financials and so forth...just like you or I do. FWIW...I found my trading niche FINALLY, and it is working for me. I became a subscriber of Stockfetcher because of some of the postings here and have developed several trading strategies that are working well. However, I feel that one needs many different tools or strategies and now I have begun developing one to trade stocks in the 5 to 15 cent range. After considerable study I find this appears to be a very overlooked area for trading. These companies are at that akward stage typically. Hope this Helps!
Very old pump & dump, it was hot like a year and half ago. I bought it at .004 and did not get out at 3 cents. Took like a 25% gain but did not realize that it was a pump & dump, thought it might actually last as an investment.
While reading your post it occurred to me that we (all traders) need a simple listing of stocks that we have encountered that are "Pump and Dump". With such a centralized listing we would not fall victim to such schemes any more and would close down one area of creative financing for shysters. The listing could be an alphabetical listing that is hyper linked to a page with all the information by the supplier of the listing. I have a few candidates for the list myself. What do you think? Hope this helps!
I also believe that last spring it WAS a pump & dump but since then they actually have been broadcasting on RCN Cable, have paid subscribers, have signed with Time-Warner & Cox Communications, purchased the rights to this Gay Games thing, and have purchased MediaCity Studios in Burbank(where Jeoprady & Wheel of Fortune were once produced). These are the things that have me interested in this thing. I am honestly not trying to "pump" this stock here. It's just that there seems to be a lot of experience and serious discussion here and I would like to hear a different perspective than what is found in those other places.