<<(No trading for me this week. On vacation)>>
fed, you've arrived. You're like the trading tycoons in the 1920's. They would sell all their holdings and go on a 3 to 6 month cruise around the world. You're a TIT man. (Tycoon In Training.) First a week, then a month, then a year. :-)
Have a great time.
Just one quick post, but regarding rights offerings.
My brother who was involved in structing a rights offering for his company to raise money is EXTREMELY wary of them. He said that he would only trust someone involved in drafting the offering as knowing exactly how the thing works. At least some on the UCOMA board will have recourse against their brokers, but as I said, I was never told anything by my broker that would give me any recourse, so I ERRED or in this case correctly aligned myself on the side of caution.
Later all. (No trading for me this week. On vacation).
I dont think it was intention...but I suggest you oversubscribe...also, they said shareholdr of record...just like a dividend...I wasnt thinking of it 'til yopu pointed it out...you mad me an extra 100 grand...so thanks...LOL
I remember that discussion on the Ucoma board. Upislouder and our Kart were having a heated discussion about shorts having to deliver the rights when they covered their position.LOL Upislouder was proven wrong on that issue if I recollect correctly.
<Since I own Ucoma May options would you please elaborate on the above post. TIA >
Shouldn't have anything to do with your options but you should read up on how your options will be treated up to the expiration of the rights offering and how it will be treated once it expires. Go to optionsclearing.com to get the info.
What I was referring to is a similarity of the confusing information on the UCOMA rights offering to the confusion with the Liberty rights offering of the TCI spin-off.
UCOMA announced on 1/20 that shareholders of record as of 1/21 will get the rights. Normally, if you buy a stock, it takes 3 working days for you to become shareholder of record. So if you are to be a shareholder of record on 1/21, you have to have bought the stock on 1/15. There was a lot of debate on the UCOMA board (of which I was a party to) as to whether you are the shareholder of record on 1/21 if you buy on 1/21. Fedman and my contention was that you are not. However, because so many people on the board said that you are, I checked with my broker and my broker assured me that you are shareholder of record on 1/21 if you buy by 1/21.
Well, Master K. sold half his shares on 1/20 and still got the rights on those shares. So the assumption that you are shareholder of record on 1/21 if you buy by 1/21 is wrong. A lot of people are going to get burned on this. A lot of shares were traded on 1/20.
I got burned because I bought back the shares that I sold. Good thing the stock recovered after the initial dip. But my strategy was to buy on the initial dip.
>Sounds good. Have no inclination to get into debate either. But a lot of people are going to get really, really pissed when they find out. A lot of shares were traded on Tuesday.
I've read so much about Malone's tactics. Could have this been intentional? <
Since I own Ucoma May options would you please elaborate on the above post. TIA
<cuz i have no interest in starting any debate>
Sounds good. Have no inclination to get into debate either. But a lot of people are going to get really, really pissed when they find out. A lot of shares were traded on Tuesday.
I've read so much about Malone's tactics. Could have this been intentional?
cuz i have no interest in starting any debate...I found the way you and fed were treated when you simply tried to pass on what you had heard to be offensive...besides, maybe all these folks who think they own 0.28 rights will find the need to scramble and buy more...like I said, I would like it to stay here...