"Not saying you're wrong"
Oh, of course not. You wouldn't say anything without knowing what you're talking about, now would you?
"where did you come up with a loss of 99.5%?"
I didn't come up with it, the debt negotiators came up with it:
EGLE SEC Filings for EGLE Form 8-K on 16-Oct-2014
Item 3.02. Unregistered Sale of Equity Securities.
Starting on October 15, 2014, the reorganized Company caused to be distributed
(i) to the holders of the Prepetition Credit Facility Claims, approximately 37,312,500 shares of New Eagle Common Stock, representing approximately 99.5% of the total shares of New Eagle Common Stock issued and outstanding on the Effective Date (subject to dilution by the New Eagle Equity Warrants, and the shares and stock options issued under the Management Incentive Program), and
(ii) to the holders of old Equity Interests of the Company, approximately 187,500 shares representing approximately 0.50% of the total shares of New Eagle Common Stock issued and outstanding on the Effective Date
"EGLE shipping went from .68 to $14.00 in one day"
No, the $.68 shares were the pre-bankruptcy shares while the $14.00 shares are the post-bankruptcy shares. The holders of the pre-bankruptcy shares lost 99.5% of their stake in the company.
"The Ex-dividend date for CRC shares was Nov 17."
No, that was the record date. The ex-date is Dec 1. It was all spelled out in the Oct 2 press release.
"for anyone who buy today and until Dec 01, 2014, will qualify to receive the special cash dividend $16.50 a share payable on Dec 09, 2014"
No, today is the ex-date for the $16.50. It's too late to buy the stock and qualify for it.
"It was a very surprised that the stock plunged $16"
That's what stocks do on the ex-date -- they drop by about the amount of the dividend because purchases no longer qualify for the distribution.
You're confusing ex-date and record date. Dec 1 is the record date for the big distribution, not the ex-date. The ex-date is today.
"As I understand, if you buy KLA-Tencor's shares before or on Thursday, December 1, 2014 just before the market close, you are qualified to receive the dividend."
Uhh, December 1, 2014 is a Monday, not a Thursday, and today, Nov 26, was the ex-date. The ex-date is the first day a stock trades without the right to the dividend.
"you are mad at the number of thumbs down another poster received?"
How do you possibly interpret my mocking of idiots as being mad?
Could it be that you're one of those idiots? ...Well, considering the way you spell ("Your hilarious") and your penchant for seeing things that aren't really there, apparently you are.
Yes, really. You've been living with yourself your whole life and never noticed?
I went to ExplosiveOTC this morning and my bowl of Cocoa Puffs exploded all Over The (kitchen) Counter.
It really WAS incredible. Incredibly messy.
"I guess cwn600 lives in Russia where freedom of choice is held back."
Where in my post did you see anything that says idiots like you don't have the right to react to facts with silly emotions?
Nowhere, that's where. So you try to change my post so you can make more emotional reactions. You're funny, in a sad sort of way.
"what you may think is a fact might not be what someone else thinks"
Well, let's take a look at what rlbeard6737 said:
"the spinoff will be a neutral event whatever the spin off shares are worth will decrease the value of PSEC"
That is a FACT because the price of PSEC is adjusted for the value of the spinoff on the ex-date. It's not anyone's opinion, it is a mechanical adjustment of the market.
rlbeard6737 also said, "the only value is if the spin off goes up in value per share"
You would have us believe that if the value of the spinoff stays the same or goes down, the value of the spinoff INCREASES?
How stupid can you be? (As stupid as you'd like the rest of us to be, obviously.)
He also said, "the new company will have more fees than now as they will have corporate expenses in excess of those presently"
Before the spinoff, there is one set of corporate management. After the split there will be two sets of management (one for each company, in case you can't figure it out) being paid for what is now being done by one. That is not an opinion, it is a fact.
Then he said this, which is a very simple fact: "It will also not be a BDC so you will lose some tax advantages" Facts don't come much simpler that that, whether or not you understand it.
But you, minnyfan, because you apparently can't emotionally handle simple facts, have to somehow bring the repression of Russia into my post.
You fumble around, trying to defend your nonsense with nonsense. Hilarious!
I'll give you this though, minnyfan: Among blockheads, you're a high achiever.
"Why they would announce it as "dividend" is beyond me."
Really? Companies do it all the time in an attempt to make it sound like it's something better than it is. And a great many individual investors swallow it like candy.
It's hilarious when somebody makes a completely factual post, as rlbeard6737 just did, and have it receive multiple thumbs down. Thumbs down to simple facts makes sense to you, does it, thumbs-downers?
Each thumbs down to a completely rational post represents an investor who values companies entirely by emotion, hope being the most prominent.
You emotionally fragile investors probably also hope your dramatic (and comically misplaced) thumbs down make you look impressive on anonymous message boards, don't you?
(Hint: It's just the opposite.)
"There are short traders on here impugning the reputations of the RMR companies"
No, actually the mentions of the soiled reputations on the message boards are simply recitations of what the Portnoys & their henchmen did to themselves by doing it to their shareholders.
"If you like consistency of income, you will want to stay long RMR."
They didn't maintain consistent income with CWH. In fact, they chopped the distributions severely (which tanked the stock price) and then changed the name of the company from HRPT Properties to Commonwealth Laughingstock and reverse split the stock in an attempt to smother the stink. But it continued to stink because they neglected to change the management.
Funny how the management fees didn't get chopped when company performance stunk the place up until Corvex started pressuring the Portnoys, isn't it?
I haven't been paying close enough attention to know offhand if today's rise has caused a remoot.
Or would it be a moot reversal?
A reversion to the moot?
"Ever heard of buying puts?"
I have. But I've heard it two different ways:
1. Buying puts you at a disadvantage if the price goes down.
2. Buying puts you in tall cotton if the price goes up.
Which way did you mean it?
It's not only hard to explain the thumb action on this board, it's also hard to explain the posting content. Many longs here are aggressively anti-short seller. That makes no sense. Some longs here have posted that they're still buying, yet they want all short selling to stop. What possible sense does it make to want the short selling to stop when you're still buying? All that would accomplish is to raise the price while you're still buying. How does buying at a higher price as opposed to a lower price benefit the buyer?
If a company is in good shape and destined to grow, a dispassionate investor would welcome short selling as an opportunity to buy more at lower prices, and the price would properly adjust in the future as the company prospers. Instead, the rabid anti-short reaction is simply an emotional response to a challenge to someone's opinion of a company, not a rational one. And man, is it funny to watch!
Some posters are so emotionally involved, they can't even accept a factual correction on the mechanics of the stock market without flipping me cr*p. On every board of the three stocks I gave as examples of spinoffs, I was on the receiving end of an avalanche of negativity simply for pointing out how spinoffs work. Just like on this board, the attackers somehow never noticed that I didn't say one thing bad about the company involved. On this message board I haven't made a single comment about MCIG, positive or negative. I've commented only on the spinoff procedure. You are a rare example of someone who didn't jump to emotional conclusions and instead spent a few minutes to study up for yourself. You should feel very out of place here!