Post by
PUNJABI on May 26, 2014 10:00am
Credential # 88 on the sell side. Watch out
This time other are trading ahead of him. He has 50k sell order at $1.78. He sold a few shares at $1.78 & 79. He is going to have a tough time sell at a profit this time.
His average cost of shares is $1.788 minus div .0225 = $1.7655. He has to sell at over $1.77 to make any profit. Big mistake trying to trade an iliquid stock with too many shares. Good for smaller traders.
Will he sell at loss or wait & become a bag holder till next div. ? The other question is will the company pay div next month ?
Comment by
PUNJABI on May 26, 2014 10:23am
He has started to sell at $1.76. So it is taking a loss. Two offers from him at $1.76 one was partailly filled remaining 27900 left & 50000 shares.
Comment by
shambano1 on May 26, 2014 2:23pm
this could be a tax trade, capital loss but you get the dividend tax credit, but I'm just guessing because it makes no sense to take a loss after the dividend when you can wait for better company performance. I'll buy at 1.75 and under if they want to sell me more shares. I'm long and biased so DYODD