Welcome to my blog Humble Student of the Markets These are my musings about the markets (mostly equities), hedge funds and investments in general. A dollar increase or decrease in a Dow stock results in a $5.08 change in the Dow Index. If Friday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs or dividends) and sold at the close you would have lost $176 ($249,284 – $249,108). A read of the print editions of Friday’s Wall Street Journal, Financial Times, Investor’s Business Daily, New York Times, USA Today, Atlanta Journal & Constitution & Daily Report (Ga.
If Thursday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs or dividends) and sold at the close you would have gained $5,527 ($249,284 – $243,757). The OTCBB is a United States quotation medium used for many over-the-counter equity securities that are not listed on the NASDAQ or other national stock exchanges. Hardly anyone bothered noting that today was options expiration date for stock options.
Stock of non-reporting companies (those without current SEC filings) may be quoted in the Over-the-Counter Markets or Pink Sheets” as they are usually known as. Most OTCBB companies are dually quoted, meaning they are quoted on both the OTCBB and the Pink Sheets”. A stock promoter is basically someone who promotes a stock, ultimately attempting to persuade others to purchase it so that its share price increases. Stock promoters used to rely on cold calling on prospective investors but now mainly use the Internet, which provides for a much more efficient method of promoting a stock to a wider audience.
Usually, stock promoters promote penny stocks because of the difficulty in finding information on these companies as they are normally listed on the OTCBB or OTC Markets, which do not require that companies provide as much financial information as other exchanges, such as the NASDAQ or NYSE. Some companies on the OTCBB and pink sheets” are good quality, and many are working particularly hard to make their way onto the more reputable NASDAQ and NYSE. On tonight’s MAD MONEY show on CNBC, Cramer went over a stock gift because it went down for no reason. But Cramer said the NYSE (NYX) should be the buy right here since the NMX is worth $12 billion and NYX is worth $14 Billion.
Toyota says that its market share in China should rise 30% next year to about 400,000 cars. We have a couple deals to watch for next week, but since it is Thanksgiving week you can expected everything to come Monday night for Tuesday trading. Onex officials had said their plan was to take Spirit public within five years, but this is 1 year and some change as the market and economy accomodate now. I am not a socialist and don’t even call out for more and more never-ending market reform to protect Grandma Jones, but when you see this it is obscene.