bobandsherry
Thinks s/he gets paid by the post
- Joined
- Nov 24, 2015
- Messages
- 2,694
Yeah, I had mentioned that and posted the details for each security as to what the max cash out could be. If you do get the common then can sell those, but who knows what those will end up trading at. Even at $4 that's still over $10/share on conversion. Trading at $4.70 today, so 20% downside yet to the $4 mark.Seems like too much of an "unknown" to opt for the $9.75 in cash when an unknown amount may be paid in common stock. One needs to be "comfortable" with getting the common and take the position that they survive and the common will be worth more in the future then selling at market price today. If not comfortable with the possibility of getting the common then consider selling preferreds at market price. [/U]
I used this as a flip opportunity. Snagged 1,000 shares around $7.20 yesterday, sold off at $7.99 today, almost $800 for a day, I'll take that. Keeping an eye on these as there's still upside to drive volatility, see if there's another chance to flip a few shares.