The Shorting of Frauds, Overhyped and Bankrupt Stocks Journal

Quote from Daal:

As a result of this issue relating to the trading software and the resultant loss, the Company experienced reduced order flow and liquidity pressures, and
its capital base was severely impacted. In view of the impact to the Company's capital base and the resultant loss of customer and counterparty confidence,
there is substantial doubt about the Company's ability to continue as a going concern.

Consequently, the accompanying Consolidated Financial Statements have been prepared assuming that the
Company will continue as a going concern and do not include any adjustments that might have resulted from the outcome of this situation."

$1B is much too high for a company with Going Concern sections in its SEC fillings
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Good pickup, but surely the 400 million capital raise will help to alleviate the "impact to the Company's capital base and the resultant loss of customer and counterparty confidence".

That's why it's not as much of a concern once the transaction is finalized today.
 
Quote from m22au:

Good pickup, but surely the 400 million capital raise will help to alleviate the "impact to the Company's capital base and the resultant loss of customer and counterparty confidence".

That's why it's not as much of a concern once the transaction is finalized today.
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In a rational world you are correct, I'm afraid people aren't so rational sometimes and they put discounts in things like that
 
a possible range for today

Low of 2.27 (Thursday low)
High of 2.90 (high reached after 7am)

Using 356 million share count
(266 new + 90 existing)

356 * 2.27 = 808 million

356 * 2.90 = 1032 million (roughly where it was before Wednesday morning)
 
Knight Capital Should Trade at $2.17-$2.47/Shr, BTIG Says

I'm on the lower end of this but its correct price is certainly not where it is right now on the pre-market
 
Quote from Daal:

Knight Capital Should Trade at $2.17-$2.47/Shr, BTIG Says

I'm on the lower end of this but its certainly not where it is right now on the pre-market
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If you gave me a 30 cent range, I'd say $2.27 to $2.57.

But agree that $2.76 seems high still.
 
"NYSE Euronext temporarily re-assigns Knight DMM responsibilities to GETCO DMM
In accordance with applicable rules, the New York Stock Exchange (NYX) and NYSE MKT have temporarily assigned custodial responsibility for approximately 524 New York Stock Exchange and 156 NYSE MKT listed securities from the Designated Market Maker unit of Knight Capital Americas LLC (KCG) to the DMM of GETCO LLC, which currently serves some 896 NYSE- and NYSE MKT-assigned securities, effective Monday, Aug. 6, 2012. Upon Knight Capital Group, Inc.’s completion and approval of a recapitalization plan, all temporarily reassigned NYSE and NYSE MKT securities as well as DMM staff, operations and systems oversight will be returned to Knight Capital Americas in a timely manner. "

Good luck for shareholders to try to vote the deal down
 
Quote from m22au:

If you gave me a 30 cent range, I'd say $2.27 to $2.57.

But agree that $2.76 seems high still.
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I noticed that there are 2 pre-markets. From 4AM EST to 9AM EST and 9AM EST to the open
After 9AM there is a liquidity burst, I believe some other ECNs open up for business. Stock got halted right after that but the real price will start to be set from now on. The first pre-market is too illiquid and not likely to be the equilibrium price
 
the firm will survive and perhaps thrive since it is based upon screwing the public investor. no wonder firms like scott trade and ameritrade deal with them vanguard is a minor surprise.

"The first pre-market is too illiquid and not likely to be the equilibrium price"

not necessarily. it was close enough today with the trading stopping at 2.76 at 8:04 which is considerable distance from 9:am. by the way the 2nd session session by most definitions starts at 8am not 9am.
 
Quote from Daal:

"NYSE Euronext temporarily re-assigns Knight DMM responsibilities to GETCO DMM
In accordance with applicable rules, the New York Stock Exchange (NYX) and NYSE MKT have temporarily assigned custodial responsibility for approximately 524 New York Stock Exchange and 156 NYSE MKT listed securities from the Designated Market Maker unit of Knight Capital Americas LLC (KCG) to the DMM of GETCO LLC, which currently serves some 896 NYSE- and NYSE MKT-assigned securities, effective Monday, Aug. 6, 2012. Upon Knight Capital Group, Inc.’s completion and approval of a recapitalization plan, all temporarily reassigned NYSE and NYSE MKT securities as well as DMM staff, operations and systems oversight will be returned to Knight Capital Americas in a timely manner. "

Good luck for shareholders to try to vote the deal down
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Absolute gift for Getco. Wow.
 
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