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Uranium Resources, Inc. (URRE) Message Board

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  • alw59saw alw59saw Nov 18, 2008 1:10 PM Flag

    strange buy 100 shares???

    Just to make you happier, here's what CBS Marketwatch has to say:

    "In fact, 27 of the S&P 500 had stock prices below $5 as of Monday's close. Struggling automaker General Motors (GM, Fortune 500) closed at just $3.18, while a share of rival Ford Motor (F, Fortune 500) hit $1.72 - less than a gallon of gas!

    Not surprisingly, several financial stocks also are now Lincoln, err, penny stocks, including Cit Group, E*Trade Financial, Genworth Financial and the notorious AIG (AIG, Fortune 500). Heck, even two banks in the process of being acquired - Sovereign Bancorp and National City - are still in penny status.

    A handful of brand-name techs, telecoms and retailers are also part of this unhappy club: Sprint Nextel (S, Fortune 500), Motorola (MOT, Fortune 500), Advanced Micro Devices (AMD, Fortune 500), Liz Claiborne and Office Depot all cost less than a Subway foot-long sandwich.

    And these companies could have friends if the market continues downward: 61 other S&P 500 firms have stock prices between $5 and $10 a share.

    What's this mean for the average investor? It might be difficult to own these companies as part of mutual fund portfolio since many funds prefer to steer clear of stocks trading below $5. Plus, once a stock crosses below that threshold it is often difficult for the share price to climb back because demand is low.

    That's not good news. So it would not surprise me to see a new trend overtaking the markets: the reverse stock split."

    URRE share price above $7 on a 1:10 reverse stock split!

1.60-0.17(-9.68%)3:59 PMEDT