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Can't sell stock
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: 1 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 3, 2012 (Last edited on Jun 3, 2012) I bought stock in a company because it was $.01 and I figured the price would go up, as I have seen happen in the past. I apparently bought 2.12G or so of stock, which I definitely did not mean to do, and now I can't sell it. Every time I try to sell it I get the error saying that my stock is stinky. I'm getting no dividends from this stock and I just want to be rid of it. What on earth can I do?For reference, this is the company I bought stock in and can no longer sell: http://www.ratjoy.com/eos/stock-view.php?ss=NYDRO |
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Andrew Naples RJ: Clemen Salad CO: Clemen Post Rating: 0 + / - Total Posts: 214 Karma: 89 Joined: Apr 26, 2012 |
Posted on Jun 3, 2012 I think once its labeled as stinky you can never sell it again no matter what price it becomes unless its in extremely small quantities. At least thats been my unfortunate experience. The whole system is gonna get changed though.
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: 1 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 3, 2012 Why is it labeled stinky and how can I avoid it in the future? I just saw that it was cheap and figured I would give it a shot.
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Bob Malone RJ: Bob Malone CO: Malone Post Rating: 12 + / - Total Posts: 341 Karma: 191 Joined: Apr 17, 2012 |
Posted on Jun 3, 2012 you should look at what you buy :)
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: 1 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 3, 2012 That's not helpful because there's apparently no indication as to whether a stock will be "stinky" or not.
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Andrew Naples RJ: Clemen Salad CO: Clemen Post Rating: 0 + / - Total Posts: 214 Karma: 89 Joined: Apr 26, 2012 |
Posted on Jun 3, 2012 I don't mind that it exists, it sucks that it apparently never goes away no matter what the stock price is.
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Bruce Wayne RJ: Bruce Wayne CO: Bruce Wayne Post Rating: 13 + / - Total Posts: 37 Karma: 28 Joined: May 17, 2012 |
Posted on Jun 3, 2012 That company is 4 billion in debt with 0 revenue and 23M cash. Always check the stock details before buying. What would be nice is if all these broken hopelessly in debt companies were deleted. Note also the chairman of that company is guilty of massive and blatant embezzlement: B2B Purchase($12.0 G) same day the company gets a 4 billion dollar loan. I'd love to see the B2B history. He probably thought no one would care due to the new server. Anyway yes, please delete these junk scam shell companies. |
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Brent Goode RJ: BB Goode CO: BB Goode Post Rating: 32 + / - Total Posts: 506 Karma: 180 Joined: Apr 5, 2012 |
Posted on Jun 3, 2012 That's not helpful because there's apparently no indication as to whether a stock will be "stinky" or not.Hogspittle!!! Did you look at its current earnings? Is the player still active? Does he/she take all the cash out in salary? Do they just reinvest? Do they have buildings of size to support the number of shares with revenue? Did you even look at the balance sheet? Did the owner maintain a majority position in ownership shares? Is it laden with huge loans? All that info is available on the stock's company pages. If you didn't go there and look, then you failed, not the system. And that would make Bob's comment very right on. |
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Brent Goode RJ: BB Goode CO: BB Goode Post Rating: 0 + / - Total Posts: 506 Karma: 180 Joined: Apr 5, 2012 |
Posted on Jun 3, 2012 Bruce: You are probably right, though I would also like to see a mechanism by which they could be bought up by investors and turned around. If the cash is gone, and they are financially nonviable, so be it, but some could be great opportunities for savvy investors, to. Perhaps a combination of player investment and a lessening of the loans to make a turn around possible. It shouldn't be too easy, but it should be possible. It would be fun to have, anyway.
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: 1 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 4, 2012 I purchased the stock before the company did all of that. When I bought it, it had a positive net worth and no loan. It was after buying it that the net worth plummeted.
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: 1 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 4, 2012 (Last edited on Jun 4, 2012) I'm not asking to sell my stock for 10x profit or anything, a simple refund is good enough for me. I've invested about 65m in this company that I thought was good and now I can't do anything with it while the owner is able to get rich and get away with it all.THIS IS WHAT ENRON WAS FORCED TO DO THEY PAID OFF THEIR SHAREHOLDERS TO COMPENSATE THEM FOR THE LIES |
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Brent Goode RJ: BB Goode CO: BB Goode Post Rating: 0 + / - Total Posts: 506 Karma: 180 Joined: Apr 5, 2012 |
Posted on Jun 4, 2012 (Last edited on Jun 4, 2012) Sure you are not talking about real life in America?
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: -2 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 4, 2012 (Last edited on Jun 4, 2012) At least in real life America you can still sell off the stinky stock.Because I can't post anymore I have to edit this. Enron was forced to repay shareholders by selling off its assets. They didn't make all the money back, no, but there was at least some form of compensation. As it stands I have no compensation and the company has no obligation to. |
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Andrew Wiggen RJ: Andrew Wiggen CO: stessier Post Rating: 0 + / - Total Posts: 16 Karma: 48 Joined: Apr 5, 2012 |
Posted on Jun 4, 2012 To who? Imagine trying to sell Enron shares after the story broke - talk about stinky shares!
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Bruce Wayne RJ: Bruce Wayne CO: Bruce Wayne Post Rating: 0 + / - Total Posts: 37 Karma: 28 Joined: May 17, 2012 |
Posted on Jun 4, 2012 Some history, and note Enron's top share price was $90 and at the end it was $0.20The result in real life was the federal government dealing with it. Eligible shareholders whose Enron holdings became worthless when the company crumbled in scandal will receive $7.2 billion in settlements under a distribution plan approved in federal court. The difference here is the government has moved to capitalism online. Besides that there's a warning about the stock market so it's buyer beware. |
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Aaron Moyer RJ: CowmanII CO: Cowman Post Rating: 0 + / - Total Posts: 9 Karma: 11 Joined: May 20, 2012 |
Posted on Jun 4, 2012 I found a way to sell it, though it certainly makes me look sketchy. If I sell stock so that the amount I get is under $10,000 I can reliably sell it. I'm just going to do that. I'm not botting or anything, just copy pasting over and over.
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