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At 5.80 is now a buying opportunity? what happend? i just bought 100 this morning at 9.45 and dumped them (took a 100 loss).

get back in?

 
I am at a loss for words.  How does that even happen?  Does it even mean anything?  

Literally screaming in my car for the past 5 minutes on my way home.  

 
That was crazy.  No news it seems, just the big (read: HUGE) profit taking power hour.  Imagine they'll be scooped back up soon enough... sure hope so... 

 
Well for better or worse I lower my cost basis a ton.  Was selling 100 shares chunks as fast as I could.  Bought back in the low 5s.

 
Are there any rules/penalties for doing what I just did?

I just bought 100 shares at $9.40. I dumped it and now may want to get back in. 

If I buy back in, are there any issues with doing so?

 
At 5.80 is now a buying opportunity? what happend? i just bought 100 this morning at 9.45 and dumped them (took a 100 loss).

get back in?
the way to look at it is, what's changed in the last hour?  (other than the price of the stock, that is.)  this morning everyone thought the stock was on a trajectory for $20+.  either you still believe that's the case, so you can buy more now at a discount, or you think something has fundamentally changed in the last hour.

 
Are there any rules/penalties for doing what I just did?

I just bought 100 shares at $9.40. I dumped it and now may want to get back in. 

If I buy back in, are there any issues with doing so?
Regular brokerage or Roth?

 
Are there any rules/penalties for doing what I just did?

I just bought 100 shares at $9.40. I dumped it and now may want to get back in. 

If I buy back in, are there any issues with doing so?
Wash sale rules on taxes is it.  Meaning if you still hold the shares at year end you can't write the loss off, you just adjust your basis for when you eventually sell.  

 
Ignoratio Elenchi said:
the way to look at it is, what's changed in the last hour?  (other than the price of the stock, that is.)  this morning everyone thought the stock was on a trajectory for $20+.  either you still believe that's the case, so you can buy more now at a discount, or you think something has fundamentally changed in the last hour.
Depends on whether there's something we just don't now yet.

 
stbugs said:
Remember when I said I was still worried and you questioned me why? This is why. It’s an OTC stock and easy to mess around with by shorts. They got it by the balls. 
But someone dumping 9 million shares without a care in the world isn't exactly the same as being messed with by shorts, no?

 
ghostguy123 said:
I am at a loss for words.  How does that even happen?  Does it even mean anything?  

Literally screaming in my car for the past 5 minutes on my way home.  
Well it is an OTC biotech stock with a market cap of 5bn and zero revenue. It is not for the faint of heart. 

 
Ignoratio Elenchi said:
the way to look at it is, what's changed in the last hour?  (other than the price of the stock, that is.)  this morning everyone thought the stock was on a trajectory for $20+.  either you still believe that's the case, so you can buy more now at a discount, or you think something has fundamentally changed in the last hour.
Nothing, that we know of.  Lots of crap happens with OTC stocks (I vividly recall 2000 in the OTC space - ugh).

On the surface appears to be a very large seller dumping shares.  Whomever did that could have done way better by staggering sales.  They lost a lot of profit.

 
cubd8 said:
Are there any rules/penalties for doing what I just did?

I just bought 100 shares at $9.40. I dumped it and now may want to get back in. 

If I buy back in, are there any issues with doing so?
Just wash sale rules.  It won’t show up as a loss for tax purposes until you close out the position.  This prevents you from racking up short term realized losses and reducing your tax bill while still owning the same position.  

 
chet said:
very sloppy seller
Man, you’d think someone would know not to enter a market sale of 9MM shares on a stock that’s average volume before the last week was only like 7MM a day. That just seems crazy to me

 
Shula-holic said:
Wash sale rules on taxes is it.  Meaning if you still hold the shares at year end you can't write the loss off, you just adjust your basis for when you eventually sell.  
So, assuming I buy back in (100 shares)....there is no penalty/restriction in doing so? It's just if i sell, there's some complication involved.

 
cubd8 said:
Are there any rules/penalties for doing what I just did?

I just bought 100 shares at $9.40. I dumped it and now may want to get back in. 

If I buy back in, are there any issues with doing so?
Short answer, no. It’s a wash sale for tax purposes. If you do it often enough, you’ll get labeled a day trader which may affect how your account works. But it’s not against the rules to sell high and buy low. 

 

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