Agreed. But unfortunately, you can't fight the mafia. They can keep it going forever, and change the game as and when they feel like it.
There are cases like this where shareholders just get thrown under the bus. Shareholders need to know how much $$$ management will be rewarded for this "deal".
Your order WILL get executed at 1.65. But ONLY if and when the price jumps through that level. So (if) the price jumps from 1 to 10 say, they will take your shares at 1.65.
Works differently with stop-loss sale orders below the market price. So for example if you have a stop-loss order saying sell everythng if the price drops to 80 cents or below, then.... say the price drops from $1 to 30 cents... you would think you would get close to 80 cents. But nooooooooo... you will get close to 30 cents (unless you had put in a limit price).
Been there, done that. Welcome to business as usual on Wall Street.
Mostly right...actually the flippers first make a deal. Then the start shorting the stock and drive the price down. Then they announce the deal at below-market price. They hand over the money, get the shares and cover the short for a risk-free instant profit. As for the warrants that come with the deal - those are free, and they get to hold them just in case the stock spikes again. Illegal? Should be, but isn't. Unethical? You bet. Happens all the time? Of course - this is Wall Street.
Obviously the small investor does not know what is going on, but there is clearly something going on behind the scenes. Manipulation? Insider trading? All of it, most likely.... you can bet on it.
One word - manipulation. Of course they will all say it is because of the widening gap between oil and gas prices.
Can't recall the exact words, but it was something like this...People think I am bankrupt, but that is not true. My companies may be bankrupt but I have plenty of money.
I say this because the big investors have a way of protecting themselves when companies go under. Only the small investors get raped and plundered.
See the article and video on CNBC...Maybe this is a good thing! Perhaps the spies will finally expose the real crooks on Wall Street - something which our government and the SEC have been unwilling to do.
I guess we will know in a few weeks, when you and I may be left with worthless shares the insiders may be dumping now.
No news of any kind. Assume there is trading going on based on insider information. "Where there is smoke, there is fire." And this is a lot of smoke.
Perhaps management have all got their bonuses after FDA approval, and are all on vacation celebrating. And meanwhile, other companies will race ahead and eat their lunch.