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FAB Universal Corp. Common Stoc Message Board

  • apple072458 apple072458 Aug 12, 2014 7:41 AM Flag

    FABU

    I was able to enter a BUY order using the new symbol, but my pre-market order was rejected.

    I wass't able to enter a SELL order using the new symbol because my shares are still listed in my account under the old symbol. But the old symbol is not recognized for trading, I guess even if it does trade, I can't sell. Probably also means shorts can't cover.

    I guess we've been FABBED.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • FABU is on the Grey Market. There will be no Bid or Ask from Market Makers. This is the wild west of trading and only customer orders will be matched. The price is going to be all over the place.

      Call your broker immediately and ask what you need to do to trade Grey Market stocks. They may have a hold on your account for those types of stocks and you just need to sign a waiver that you know the risks of trading in the Grey Market.

      Hey... at least they don't have the skull and crossbones as a caveat emptor stock.

      • 1 Reply to lbcb321
      • =There will be no Bid or Ask from Market Makers.

        Better get this question out of the way before things get hectic. You will see a Bid Stack and Ask Stack on your L2 quotes. The difference is these are not coming from Market Makers. These are all actual customer orders. Even though it is Grey Market, you still have some price discovery in that regard. Enter your limit orders and you may get a match and fill.

        You will have both shorts and longs motivated to sell who NEED the money after having their cash held hostage for so long. You could see trades anywhere from a buck to three bucks. I think it will gravitate towards $1 to $1.50 but you never know with no MMs involved. We may even see MMs file the proper form this morning and get them off the Grey Market before regular trading begins. That is your quick tutorial. Call your broker if you have doubts.

 
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