Sold 25,000 shares at 4.85 cents ( pre reverse split 50 / 1 )
At 50 to 1 that equals selling at 50 times 4.85 cents = 500 shares I sold for $ $2.42
( my 25,000 shares then would be 500 with the reverse split had I not sold)
The newly consolidated shares cratered at the consolidation and instead of being $2.50 – $3.00
they declined to 38 cents( no misprint).
I never take advice from the forums on yahoo.com/finance – and this stock illustrates my brother-in-laws’ take on the contributors – ” they hold a hundred shares -if that- and are experts on everything except the stock market”
On NEWL several of the posters cannot even divide by 50 to figure out what happened. Others actually ” brag ” about how much they lost. The most common mistake is chasing the price as it declines. OK – maybe I was lucky in my timing rather than smart in selling – but it is good to be both.
This morning Friday , May 16th I bought 2000 shares at .64
Time will tell if the company intent to remain in business will pay off . They are buying ships and in coal – two of the worse sectors to be in – so the shares are cheap for a reason.
NEWLEAD HOLDINGS LTD(NEWL:NASDAQ, US)
|Open||0.4700||P/E Ratio (TTM)||—|
|Last Bid/Size||0.7100 / 110||EPS (TTM)||-56,034.36|
|Last Ask/Size||0.7150 / 178||Next Earnings||—|
|Average Volume||2,156,391||Dividend Yield||0.00%|
|Day High||0.7150||Ex-Dividend Date||—|
|Day Low||0.4500||Shares Outstanding||10.1M|
|52 Week High||8,235.00||# of Floating Shares||10.02893M|
|52 Week Low||0.3788||Short Interest as % of Float||0.53%|