I don't short either, but if I did short, I wouldn't short SUNEQ even if shares were available. It's just a foolish strategy at this stage of the game. Anyway, I don't think diu902 is really serious. He doesn't even know he can't short in a qualified account.
Did you actually short the shares or they are just listed as available? Schwab can't get any. I don't understand how any broker would mess around with a .20 stock. The margin would have to be 100% for them to even take the risk on a company in bankruptcy. In my opinion, this is a stupid play if it is truly available.
It's not the availability of shares. SUNEQ is in bankruptcy so no broker is going to allow margin on the stock. It's just not marginable trade. No one can short SUNEQ any longer. That ship has sailed.
You can't short in a 401(k) or any qualified account. It's obvious you don't even know what shorting a stock means or any of the rules. Shorting a stock requires margin and you can't have a margin account in a qualified account.
If you are looking to get in, why not wait until it returns to over $1? I might risk $10k at $1.25, but I am not going to risk $10k at .22. If you are not willing to risk $10k then you are not really investing in SUNE; you are just gambling on a judge. Might as well go to Vegas.
Why do they need to cover? The old stock becomes worthless and they don't have to pay back anything for the stock. I don't think you understand the technical aspects of shorting a stock.
WOW! Longs on this board should read a book on Behavioral Finance. You are all exhibiting every symptom in the book. If the company survives, and the jury is still out on that one, the common shareholders of SUNE will not. I guess at .22 it doesn't matter, but everyone had their chance at $2.00. 90% loss from $2.00. I guess if you were long since $30, it doesn't really matter either, but from $5?
Great timing on your logic. They filed today. BK prediction was a no brainer. I said this was where they were going a month ago.
I knew I was buying against my better judgment. Only bought 2000 shares at bk prices, but will lose it all on Monday. I doubt SUNE will even trade on Monday and Tuesday will be a fire sale. I will be glad to get a nickel per share. After that, a couple of bumps here and there and then sub penny prices. I am certain the message board will be shut down. So it's been fun, except for those who have lost their shirts on this stock. Sorry about that.
Great research. When they issue a sell, then you load up the truck. Hahahaha
Against my better judgment, I did the same thing. Only bought 2000 shares; my better judgment prevented me from buying more.
I just bought 2000 shares today so I am taking a small risk. Having stated that there is never any evidence for bk until management declares bk. It is in their interest to not make it public until it is public and then it's too late. If I had any confidence that SUNE wasn't going to declare bk, I would have purchased 200,000 shares. I don't have the confidence in SUNE to do that. Every company I have ever been involved with that declared bk said that they have no plans to do so. They all lie.
Looks just like Enron. If you bought in at .22, better take your huge profit today and run. That's the mistake Enron investors or vultures made back in the day. In one day, Enron stock (in the tank like SUNE) popped over 100%. The idiots who bought long and made 100% in a day stuck around for BK and made $00000!!! Just stupid. If you had the guts to put up enough money today, take it and run.
I would sell on any pop even if it's a loss. This is going to the pink sheets. That means you will be looking up at .22.
Is this a rhetorical question or are you really asking the question? If you are asking, then recourse debt allows the lender to collect what is owed for the debt even after the collateral has been exhausted. In other words, all future earnings. All other debt is considered non-recourse. In other words, the collateral is the extent to which the lender can recover the loan. Hope that helps if you were really looking for definitions.
11 billion number came from The Motley Fool. I believe their reporting over SUNE. What I believe more than anything is the share price. 90% drop in the share price in 2 weeks = serious problems and most likely fatal. And not a word from management is the final nail. However, if you have held to this point, might as well take a total loss. There is no way I would be buying at this point. An imminent BK announcement make this stock as risky as roulette.
You are assuming that the numbers you are reading from Q3 reports are accurate. I have stated since the story broke that I believe managed has lied about the numbers. Did you not read about the law suit from Terra? Are you not looking at the share price? 90% loss in 2 weeks??!!!! Have you ever seen the movie, In Search of the Holy Grail? There is a sword fight scene where a knight loses all his limbs and boldly states, "It's only a flesh wound!" That's what this whole board of optimists sound like. SUNE will be at .05 or lower before the end of the month and the ticker will read SUNE.PK