GREY:PGDIF - Post by User
Comment by
Kidlapikon Nov 25, 2015 2:48pm
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Post# 24325193
RE:90 minutes until rights are issued
RE:90 minutes until rights are issued
I think that is overly optimistic. Bulk sample results not until early January, tax loss season and at least 30 million shares worth of rights in the public float at 0.10.
If I have 100,000 rights exercisable at 0.10 I would sell 66,666 shares at 0.15 and I could cover my 0.10 rights and increase my position by 33,333 for free.
Or I could sell 100,000 shares at 0.15 and just wait. I would have the money in the bank to cover my 0.10 rights if I want to and I would still put $5,000 right in my pocket at the same % I had prior to the rights and still dropped my average cost per share.
I see no reason to buy shares between Nov.26 and CH-7 bulk sample results but there are plenty of good reasons to sell.
Hell I could get my rights, sell, bank a tax loss, get back in on my 0.10 shares, and pocket cash. Not bad at all.