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Penny stock thread split

Wally Fairway

By Wally Fairway
in Business and Markets

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Should there be a separate Penny Stonk thread?  

58 members have voted

  1. 1. Speaketh yer mind Surlites

    • Keep everything in the Stonk thread
      12
    • Make a new thread focused on Penny Stonks
      19
    • Whatever RCRanger says is good by me
      14
    • I'm good either way
      8
    • Dickbutt - tree fiddy - OUsux - I just wanted to vote
      4

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  • Poll closed on 02/04/21 at 05:00 AM

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RCRanger03
RCRanger03

Not bad advice, but no worries here. I'm just an internet stranger lol. When I can I'll help put out information about when and where to get in on the bottom floor, or when catalysts look to take it t

CooterBrown
CooterBrown
RCRanger03
RCRanger03

NVSOS is where it gets filed and FINRA is where it is enacted. If/When an R/S is done you'll see it show up here - https://otce.finra.org/otce/dailyList Apparently I got more than just yall into XM

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Burt Macklin

Burt Macklin 19038

Posted
Posted

The close for TSNP today gave me XMET vibes.  The last two weeks feel like they’ve just been a steady stream of shares appearing out of nowhere and reverse splits. And now we likely have GME taking the market captive for another week at least. Ooph. I guess the bright side is my account’s still pretty green overall. 

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RCRanger03

RCRanger03 1049

Posted
Posted
1 minute ago, The Royal We said:

"Quell the volatility?"  That's kind of what we're after here my dudes.

And yea, George is salty af on Twitter this afternoon.  The split doesn't bother me that much - much different than a 100-1/1000-1 split.

In terms of R/S size yes this is about as nice of one as could be expected... the danger with the R/S is causing panic and doing it without notice (when you've literally just hyped only the name change) seems to be about as panic inducing as possible. I don't pay attention to George anymore he's a sideshow and honestly a liability to the company. I do believe that pairing this with the audited financials shows they're serious about an uplist. This is exactly however why I didn't want ALPP to R/S

I'm interested in the belief that the R/S somehow makes the shorts get out. Need to look into that, because I believe a short position survives a split. 

I'll post early tomorrow morning what my plans are. I'm riding completely dirty here because as you saw I became so capitivated by the potential, but my inclination right now is to get on free shares soon. 

  • Hook 'Em 2
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The Royal We

The Royal We 3072

Posted
Posted

I’ll be interested to read what you’re thinking after you gather your thoughts. 
 

RE: giving advanced notice of the R/S - it seems like it’s going to cause jitters no matter when you tell people your plans. If you give advanced notice then some investors are going to get jittery and bail right then, or you wait and people freak when you spring it on them. 
 

Nothing changed on the value proposition yet. I’d be more concerned if they had a PR and said the app was going to be delayed until next year or some such. 
 

Or maybe I’m just rationalizing and hoping I’m not about to lose my ass. I absolutely wish I would have sold some up above $1.75, but that window wasn’t open for very long. 

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bluto

bluto 4932

Posted
Posted

Amy and alpp, some real g’s today.

And idk what I’d do if either of those acted foolish. I’ve already lost Innd, fpvd, xmet, Abml, and now Tsnp (maybe dumb on my part but took sig profits on 3/5, while medium size hot Carls absorbed on the other 2)

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cam4mav

cam4mav 771

Posted
Posted (edited)

Ok someone poke holes in this line of thinking for me, besides being paper swing trading bitch

my cost basis is at $0.80 for TSNP

I'm anticipating the share price drops from this, totally unsure how much. The overall market nosedive today with continued GME fuckery add to the not great feeling about it.

If I put a limit sell for $.80, I retain my cash value or take small profit with whatever does get filled before the anticipated dip below. Then after a few days to settle the cash and for the stock to find new footing, I get back in with hypothetical increased value per share if it's share price is below today's close when I get back into it. 

What am i missing? Also how funny but also fucked would I be if I forget to wake up early and check that limit share $ against the current reflected price per share and I get my order filled way late at like $2.75 

 

edit: My first takeaway is that I risk doing all this for minimal price movement tomorrow and great news is announced over the weekend and my cash is not settled and I miss out on benefit that I would have gained from by just staying put

Edited by cam4mav
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Blotto

Blotto 23557

Posted
Posted

I fucked around all day trading options on SPY, UVXY, and QQQ. Managed to offset my losses, plus sitting on bout $1000 of free SPY puts expiring tomorrow and monday.

Regarding TSNP, 4 billion shares or 4 million doesnt matter as much as TSNP's ability to generate revenue. A $4 billion market cap is the the relevant number if you plan on holding for the long term. At some point they will need to move beyond power point and lay out revenue projections and start hitting them. Thats a massive number for  company with no revenue  and a handful of employees. Short term, its OTC so who the fuck knows. 

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RCRanger03

RCRanger03 1049

Posted
Posted
5 minutes ago, RCRanger03 said:

Are you talking about TSNPD? 

3 minutes ago, Hank_Hill said:

Jes

To let people know there is a split.

Not all splits come with a name change and vice versa, they lumped in the name change into a single corporate action. 

If this was going to happen now rather than later, my preference would have been to do the name change independently reestablish solidly over $1 or even go on a run into the weekend. Then announce the R/S in a PR so that people would have time to decide what they wanted to do. Then we'd have some wiggle room and the R/S would get us higher towards the Nasdaq listing goal. To have it show up in FINRA and then PR when the chaos was ensuing a little bush league IMO.

4 minutes ago, Blotto said:

I fucked around all day trading options on SPY, UVXY, and QQQ. Managed to offset my losses, plus sitting on bout $1000 of free SPY puts expiring tomorrow and monday.

Regarding TSNP, 4 billion shares or 4 million doesnt matter as much as TSNP's ability to generate revenue. A $4 billion market cap is the the relevant number if you plan on holding for the long term. At some point they will need to move beyond power point and lay out revenue projections and start hitting them. Thats a massive number for  company with no revenue  and a handful of employees. Short term, its OTC so who the fuck knows. 

I don't disagree with this take. Audited Financials goal is where we get to see the pudding.

Coming into February XMET, TSNP, and ALPP each were over $100k for me, can we go back?

we have to go back jack shephard GIF

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cam4mav

cam4mav 771

Posted
Posted (edited)

 

counter point..... the whole force the shorts to cover angle...... no advanced notice, force shorts to buy on open, gives buffer or net increase to share price to offset panick

 

I'm gonna start googling to see if that's actually a real thing to be able to force covering... Sounds too good to be true.

Edited by cam4mav
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bluto

bluto 4932

Posted
Posted
 
counter point..... the whole force the shorts to cover angle...... no advanced notice, force shorts to buy on open, gives buffer or net increase to share price to offset panick
 
I'm gonna start googling to see if that's actually a real thing to be able to force covering... Sounds too good to be true.

I don’t think you’re gonna like the results
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cam4mav

cam4mav 771

Posted
Posted

Ok how is this for a hedging strategy. 

I've got purchase lot's from cost basis $0.46, 0.94, 0.96, 1.35, 1.46 ( I need to stop chasing shit JFC, how not to average up)

most recent was 0.94 today and if I sell that one I get yelled at for selling unsettled funds.

I want to keep the 0.46 cause cheaper and long term that factors into higher % gains right?

the rest I can limit order sell on open to lock in reduced losses vs when stock price drops. If it drops so fast my order doesn't get filled then I'm just along for the ride after that. 

I have cash settling overnight from profit taking earlier on RXMD to jump back in if I want to, and I anticipate doing so.

 

I believe in the humbl crypto long term value. I want to optimize this next day and following week. I'm robbing peter to pay peter in this scenario, but I think it works out in my favor if the moves happen the direction I anticipate.

 

Am I missing something?

 

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RCRanger03

RCRanger03 1049

Posted
Posted

Interesting reading on the idea that this action could force shorts to cover. TLDR: R/S doesn't, the name change could. 
https://www.investorvillage.com/smbd.asp?mb=4143&mn=285556&pt=msg&mid=13388680
   

15 minutes ago, cam4mav said:

Ok how is this for a hedging strategy. 

I've got purchase lot's from cost basis $0.46, 0.94, 0.96, 1.35, 1.46 ( I need to stop chasing shit JFC, how not to average up)

most recent was 0.94 today and if I sell that one I get yelled at for selling unsettled funds.

I want to keep the 0.46 cause cheaper and long term that factors into higher % gains right?

the rest I can limit order sell on open to lock in reduced losses vs when stock price drops. If it drops so fast my order doesn't get filled then I'm just along for the ride after that. 

I have cash settling overnight from profit taking earlier on RXMD to jump back in if I want to, and I anticipate doing so.

 

I believe in the humbl crypto long term value. I want to optimize this next day and following week. I'm robbing peter to pay peter in this scenario, but I think it works out in my favor if the moves happen the direction I anticipate.

 

Am I missing something?

 

Do you trade through an actual personal broker? Most online brokerages sell First In - First Out, so your oldest shares sell first. The free riding deal is a slap on the wrist until it's not and can get your account frozen. Are you trading on Cash or Margin?

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bluto

bluto 4932

Posted
Posted
Interesting reading on the idea that this action could force shorts to cover. TLDR: R/S doesn't, the name change could. 
https://www.investorvillage.com/smbd.asp?mb=4143&mn=285556&pt=msg&mid=13388680
   
Do you trade through an actual personal broker? Most online brokerages sell First In - First Out, so your oldest shares sell first. The free riding deal is a slap on the wrist until it's not and can get your account frozen. Are you trading on Cash or Margin?

On that name change strategy, seems like there’d be a lot more of that going on to clear the books if actually a sound strategy.

and damn those pre market trades on tsnp are going to be wild af, hope you guys still holding don’t catch a penis to the head with no defense. Pisses me off greatly we can’t trade ext on otc.
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cam4mav

cam4mav 771

Posted
Posted (edited)
15 minutes ago, RCRanger03 said:

Interesting reading on the idea that this action could force shorts to cover. TLDR: R/S doesn't, the name change could. 
https://www.investorvillage.com/smbd.asp?mb=4143&mn=285556&pt=msg&mid=13388680
   

Do you trade through an actual personal broker? Most online brokerages sell First In - First Out, so your oldest shares sell first. The free riding deal is a slap on the wrist until it's not and can get your account frozen. Are you trading on Cash or Margin?

Trading cash, and using Fidelity personal brokerage account.

I've got many slaps on the wrist already as I've reacquainted myself with trading after a few years. So I'm trying to avoid it if it's not too costly. Pulled an unsettled day trade yesterday from the XMET stuff so trying be play by the rules for now. They even paper mail notices for violations. I have a stack of envelopes that showed up a few days in a row lol.

 

 

edit - to clarify, I have an option to specify the lots I want to sell from on Fidelity. I found that out, today. FIFO is the default but I can specify which is cool. Is there a way to do that better or worse? Feels like it but I don't trust my gut on this stuff and would love opinions.

Edited by cam4mav
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cam4mav

cam4mav 771

Posted
Posted
8 minutes ago, Hank_Hill said:

I guess I’m not understanding the limit sell of .8. It’s not going to open at that.

that was my CB, just a starting point for thinking this through.... however still thinking about it and deciding what my $ point is where I just ride vs seal a loss and buy in lower. I don't have a ton of shares either, so I'm confident it would fill if I pick the right number. I'm playing with a few hundred bucks, nothing like the surly 1% or those of y'all that got in much lower. 

Honestly looking for feedback, this is such a unique situation. All opinions and discussion helps us all make better decisions individually. 

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The Royal We

The Royal We 3072

Posted
Posted
13 minutes ago, RCRanger03 said:

Interesting reading on the idea that this action could force shorts to cover. TLDR: R/S doesn't, the name change could. 
https://www.investorvillage.com/smbd.asp?mb=4143&mn=285556&pt=msg&mid=13388680
   

Do you trade through an actual personal broker? Most online brokerages sell First In - First Out, so your oldest shares sell first. The free riding deal is a slap on the wrist until it's not and can get your account frozen. Are you trading on Cash or Margin?

Vanguard allows you the option of FI - FO or selecting the # of shares from each lot that you want to sell.  This was driving my question on exit strategy on the stonks thread - and I had the same conundrum that @cam4mav describes in mind.  

I have 7 different lots ranging from .315 to 1.25.  My thought was that if I really think this it's going to crater over the next week but ultimately bounce back, to sell everything that is in the money tomorrow morning and hold the lots are at .87, 1.05, and 1.25.  I'd then have a specific target to get back in, but really would have no clue how ugly this could get tomorrow.

But I'm a stonk noob and am really struggling with how to best play it now that all of this new shit has come to light. 

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