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Way Out of the T12 Halt in EDTX
- Thread starter quantdonkey
- Start date
I have 500 shares bought at $74 and would like to sell at $54 if someone would like to buy, that’s the final price I would like to trade or I will take the risk and wait until the stock unhalt. I can show you the price I bought on trading account. If someone is interested, please contact me.Folks,
I have been day trading for a few years, but I am not a very social person and haven't been a part of the community. The issue I am facing is what prompted me to open the account and publish this post.
EDTX was halted today on a T12 halt. It is a crappy SPAC that was heavily manipulated. Today, the circus was stopped by SEC. It was ~$64 when it was halted. The NAV for EDTX is ~10.5 and that's where it is heading once it will be delisted/downlisted after the halt.
I am stuck in short position. In theory, I should be happy, but T12 halts might take long time to be lifted (e.g CO halt lasted almost a year), and the borrow fees are outrageous. I am looking for a way out.
If by chance, you, or anybody you know, is stuck in the long position and wants to get out while the stock is still halted and before it goes to 10 bucks, I am willing to buy your shares off the exchange using ACAT transfer between the brokers, so we both can close our positions.
Ping me
Not when everyone knows you’re paying such high interest. You need out fast.not doesn’t cost anyone anything to hold. The going rate is $65Sorry, I'm mostly short. Just interested in the price discovery for this "asset" (given the short history of the price spike). I would say the longs should be more scared than the shorts, so I thought my price estimate ($35) is a bit on the high side for such a transaction...
I started this thread, and by now I have covered everything. So just to say thanks to everybody
Not when everyone knows you’re paying such high interest. You need out fast.not doesn’t cost anyone anything to hold. The going rate is $65
Not sure where you take the going rate from.
I made a deal with 6 people in total to cover all my shares, and not even once I paid as high as 65.
There is an incentive on both sides, long and short, to do the deal
Any longs who don’t do a deal to get out, will end up with $10/share after the company redeems them based on NAV value
For shorts, it is more of a bet on how long will it take for the company to delist and redeem. The price you pay is effectively a bet on how long it might take
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I don’t know anyone who sold for less than $55. No one sold in the $30s. The $55 was two weeks ago, now there are still a lot of shorts looking and having a hard time filling so it’s gone up.Not sure where you take the going rate from.
I made a deal with 6 people in total to cover all my shares, and not even once I paid as high as 65.
There is an incentive on both sides, long and short, to do the deal
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I don’t know anyone who sold for less than $55. No one sold in the $30s. The $55 was two weeks ago, now there are still a lot of shorts looking and having a hard time filing so it’s gone up.
I can confirm indeed, I never paid as low as 30.
but also not as high as 65
I have 200 shares if interestedI'm interested in buying. What price would you sell your shares at?
Hey, I just sent you a message. Let me know if you are interested?I have 500 shares bought at $74 and would like to sell at $54 if someone would like to buy, that’s the final price I would like to trade or I will take the risk and wait until the stock unhalt. I can show you the price I bought on trading account. If someone is interested, please contact me.
I have 200 shares if interested
Hi, just sent you a private message. Let me know. Thanks!I have 200 shares if interested