Now we all know the reason for the run up.....some big holder needed to get out prior to the delisting. I love how fools like sellhigh and onetoomany start ribbing ME when the price rises, and then are suddenly radio silent when the news comes out. Aren't you people SICK of the constant negativity with this stock? The consistent bad news? The idiotic management? The ups and (mostly) downs? I grew tired.
The de-lisitng was expected. The company had 6 months to come out of Chapter 11 (filed in September). Until the litigation is settled, SIGA has to stay under Court protection from creditors (PharmAthene). Thus, any funds who are restricted from owning an OTC/Chapter 11 stock probably already sold. US Gov will do business but would impose terms to protect itself. The real risk is that the Chapter 11 turns into a Chapter 7 (liquidation) if SIGA loses in the SC.
Don't listen to the other bagholders telling you to hold. Sell ASAP because when a stock is delisted it means an immediate drop in liquidity which results in the share price dropping 50% or more. Then over the course of time the share price bleeds down another 25%.
Sentiment: Strong Sell
ssd, the only reason any of us have held this long is hoping for a better outcome from the Delaware supreme court. The delisting doesn't change that. A favorable ruling would likely result in a quick exit from bankruptcy and a re-listing on Nasdaq. And a settlement with PIP is always a possibility after the legal maneuvers are completed. Or we could lose the rest of the money that we still have in this pos. SIGAQ for now...
So what. Part of the game... M and F bought a bunch if shares. They will buy more if stock tanks...? Stay tuned.
The reality is nobody knows. It all depends on the ruling of the DSC. This has been very difficult for both sides because we are investing in a decision rather than on fundamentals. I wish you the very best in whatever you decide.
:) Stupid I am not.....I was just looking for people that owned it too, had already taken the same bath we did in the past (dropping 10 bucks in one day) we have already "lost" the big value this is just the last crumbs, wanted to see if it made sense to ride out the last of the storm or take our remaining pennies and buy a big gulp or two.:) writtten with humor but many a truth is said in jest.
I wouldn't sell. Nothing crazy happens with the stock. It just trades over-the-counter vs on the NASDAQ, which doesnt mean too much. It'll trade under SIGAQ going forward, but it's still the same company. Most people will overreact and sell tomorrow, but nothing fundamental has changed with the company. Plus astute investors knew this was coming months ago. The stock will most likely temporarily drop tomorrow and normalize over time. You're better off holding than panic-selling tomorrow. Most people tend to overreact to everything on these boards. You're better off ignoring them. Much more upside than downside at these levels. Just my two cents. Good luck.
Sorryt if this is a stupid question but we own siga (long-unfortunately) My husband works on a ship and is away. What is the normal move when a stock is dilisted. Do I want to sell them while I can or do i hold for another gazillion years and hope it goes back up. I dont quiet understand "delisted" I googled it but it did not mean anything to me. Advice?