Nobody said I'm not happy with this latest drive up to $4.42. I'm delirious with happiness. No, the question for this board is why after such a spike the board appears asleep? Also, opinions/guesses on what caused the spike this week (considering there was no corresponding news releases explaining it...). kg
Just bought in 3K MU @ 22.92 on Margin. Immediately dropped to 22.87. Now 22.84 all in the span of 3-5 minutes. Hope I'm not trapped for a few days now.
Please, no lectures on the margin..
arts and all,
I'm long 3K Shrs MU @ 22.92. I'm not sure I'm tracking your arguments right. I thought that one of the reasons MU supposedly did so well this last year was due to the recent plant fire at Hynix - more business and/or higher chip prices. But I never assumed the fire necessarily impacted Hynix's bottom line or it's earnings potential this season. The two don't necessarily mean Hynix was in the doghouse, just that it made a room for better profits for it's competitors.... Am I wrong on that? If so, what's all this bickering about? Doesn't Hynix having a good earnings release today bare well for MU as well or the sector in general? Don't get it... kg
Or, is this all we get and MU just stabilzes & resumes rambling no particular direction starting tomorrow?
Sitting on 3k @ $22.92 LONG from this morning. Wondering whether to take my daily gain or dump before close and re-buy after it settles down again after tomorrow's open??? kg
I see everyone's chomping at the bit to reply to this post!
I held my shares at the close and going into the opening tomorrow with a GTC Sell order at 23.40. Nighty nighty.. kg
My concern is that I, like most of the public, are still not Groupon users and this company is too difficult to understand let alone invest on it. Like a lot of internet stocks, GRPN doesn't make anything tangible, it's an idea that' perhaps is starting to prove itself but who knows where it's going or how soon the competition will make GRPN no longer novel. I've been trading it a bit the last few months, made a little on the swings but not bold enough to invest in this for the long term yet...
mike, Your "opportunities to average in a position or better yet, clear support and resistance..." interests me. I'd like to hear more. I've always just been a straight in and out trader. I like a bird in the hand. Taxes are not an issue for me. Also, no shorting and no hedging. But would love to know a system of averaging in every time it goes down and then knowing when to sell. Averaging in sounds interesting. How do you do that on MU? Also, what does the "clear" in "clear support and resistance" mean? kg
Considering buying CMCSA stock to hold for the long term in my Roth IRA. Since all stocks have come down I'm thinking now's a time to buy. Is there some event on some known scheduled DATE that is driving the Govt's decision whether to allow this Comcast buyout of TMobile deal? kg
CORRECTION TO PREVIOUS POST
I meant S, not Comcast. Replace CMCSA with Sprint (S). (I'm also wanting to buy CMCSA and have that trading symbol on the brain this morning)
DITTO. AGREED! When Groupon was known as a discount shopping coupon provider, I took notice. But I'll always visit Amazon first for all round shopping needs. I suppose if Groupon implements an online push service where I'm on the mailing list for just the shopping needs I'm interested in and they beat out Amazon then, yeah, that works for me. But they're not there yet. And I agree, they keep trying to compete with Amazon, they're going down or bought out....
Yes, I understand what you're saying but I thought I saw an article something about the Govt in the process of making some decision on this. Something that S is waiting for before proceeding or doing something...
Thanks very much teamrep and all answers but I'm hoping we can drill this down to answering the question of WHEN? Significant milestones we can expect things to happen/conclude? kg
Where'd you see this, "$2.5 Million From Sale"? I haven't looked at any news alerts on SVNTQ for the past two weeks. I did open the mailer we got this week announcing all the common stockholder's claims got thrown out, saw my claim as one of them. But haven't had time to read the thing yet. I did see we have a short amount of time during February to file an objection and attend the next court hearing. Without even reading anything yet I'll probably file an objection and teleconference into the hearing like I did the Seller Approval hearing. I hope more are joining me... kg
Thank you reach,
When I have more time I'll dig this up and investigate further. What's throwing me a bit is I haven't seen this in a news release, but could have just missed it. As far as the small amount 1.8M, guess we'll just have to see how that translates in " the full text of its liquidation plan". Stay tuned. kg
Thank you lillf,
When I have more time I'll read it and give you my take. Without doing, two ideas come to mind:
1) The reason I initially filed an objection to the Sale was simply because Savient and the Court had not addressed the Common shareholders outstanding equity at all. My objection stated basically that regardless of the likelihood of little to nothing being available, they still had to address the commons and how it would be paid out in the event there was money for us. During the Hearing, defense counsel then brought up that it would be a future issue addressed by a plan of distribution, "The Plan". We still haven't rec'd "The Plan" and if we aren't scheduled to see it before this Objection deadline (2/28/14), then that would be the basis of our next Objection.
2) Objections could either be on the basis of fraud (Savient Stockholders List of Complaints). Ordinarily this would be a civil suit, like a Class Action but without seeking advice, it's possible some or all of our common complaints could be leverage for a better settlement.
As for objecting to throwing out our claims I will have to get some time to read the entire Debtor's Omnibus Objection file 2/5/14 (which we all just rec'd in the mail).
My first guess that comes to mind is this "in exchange for their support of the pharmaceutical company's plan to conclude its bankruptcy case." is nothing more than a lame attempt to buy off the common stockholders prematurely. They've already disallowed our Claims. Now they're doing the next step - get us out of the way.
DON'T FALL FOR THIS! File your objection to the Claims disallowed order NOW! Just mail a simple Word file to the Court stating "to be filed", enclose a self addressed envelope and they'll return you a court stamped filed copy for your records. This needs to be done NOW, to be rec'd NLT the Feb 28th deaadline.
For specific reason: state "To date, the Plan of Distribution ("the Plan" has not been received by the Common Shareholders to address our outstanding stock". Doesn't need to be detailed like the stupid letter says. Just get your filings in on time, and plan to teleconference into the Hearing!
I read it last night. Yes, we've been downgraded to "interest holders" that supposedly filed "erroneous" claims. Erroneous apparently because (per some code in the law?) claims aren't "necessary" for stockholders. Oh well, didn't hurt anything and now know there's roughly 300 stockholders out their #$%$ off just like us!
On the subject of objecting on the basis that we haven't rec'd "the Plan" yet, Savient filed the *K on that yesterday 2/10 (the day after I posted my objection, ha!). Knew that would happen. The 8K has not come out in a newswire yet to my knowledge. But it can be found on the Savient GCG Trust/Claims web site. Until I have a chance to read it, I won't have anything further to say as far as Objecting. But I would suggest that Objecting is certainly still within our rights to do and shouldn't be dismissed just yet.
Side note: the recent news wire informing us about the $2.5M as a "in exchange for their support of the pharmaceutical company's plan to conclude its bankruptcy case" is a JOKE! Count up all the $ amounts on the 300+Claims and you get roughly $4M alone. According to Savient, there's still 73M shares outstanding (2/5/14). Do some math and you'll see that the return Savient has in mind for you to "support" their closure isn't worth the shipping cost containing your check! Why support that!
I have yet to call and ask my question to the "Debtors Counsel" phone number (646)563-8925 listed on the Omnibus Objection Order, but plan on doing ASAP. I'll share whatever I find out. I suggest everyone else do the same.
kg2931 (Long n Strong SVNT(BTGC) 20K Shrs @ $4.64 Shr Avg CB ($92,800) held 16 Yrs since 2/11/1997)
Today I called the Savient Defense Counsel / Daniel Geoghan and he said the stock holders are "interest holders", not "unsecured creditors", and therefore are NOT entitled to any of the $2.5M. This is per the US Bankruptcy rule Sec 507, "Absolute Priority Rule" which spells out the priority of payouts: 1st the Creditors, then the Secured creditors, then the "unsecured creditors" and last in line is the stock holders (or interest holders).
Also, that the numbers of Claimants have increased since our original filing from the approx 300 (listed in our paperwork) now up to 800. Thus,the First Omnibus Objection". A second will be coming. Many of the 800 are either late or otherwise invalid claims (the same as our stockholder/interest holder claims) and will also be expunged.
Also, that per the "Plan of Liquidation" (8K) the intention is the stockholders will get nothing (0) providing the Plan is Confirmed which is scheduled to complete by March 17th. Also, that the Stockholders have the right to file an Objection to the Plan, that it is unconfirmable in its present state. I recommend all stockholders have the Plan looked over by their lawyers and file an Objection ASAP. There will be no shortage of stockholders to support it.
He said stockholders ordinarily file "PROOF OF INTEREST", not the Proof of Claims we filed erroneously. We could still file Proof of Interest claims however, he said it's not necessary because the Plan spells out there's no money left and assumes we'll just calmly go goodbye.
Pretty much it in a nutshell. Stay tuned.
kg2931 (Long n Strong SVNT(BTGC) 20K Shrs @ $4.64 Shr Avg CB ($92,800) held 16 Yrs since 2/11/1997)
Bought 5K @ $10.52 this morning. Figure the sell off while two analysts still recommending a 'Buy' a good time to get in. Hope I'm right. Down a dime already... kg2931