Holy tight leotards Batman, USAIR stock volume will likely exceed 100 million shares today!!!!!!!!!

[Severed-N-Happy]

I don''t think that has ever happened, at least not in the past 3 years, even with the UAL merger hype from 3 years ago...traded as high as 12 cents a share today and now back down to 8cts,..daytraders who bought at 7cents last Friday or this morning made a fortune today..same with American,,little bit of good news shot them up to as high as 2.50 today from a low of 1.30...will likely only trade 25 million today.

 

[2BorNot2B]

This is a good example, I guess, of the reason I lost so much in the "Market"! On the very day that U is to emerge from Bankruptcy .. why is the U Stock, that is to be declared worthless, trading at all???

 

[Severed-N-Happy]

US has been trading under the symbol uawgq on the bulletin board penny stocks since last AUGUST..if I am not mistaken whatever you had in U shares translated to uawgq value..example,friend of mine had bought 75 sh of U at 24 a share 2 yrs ago..when it dropped after BK to less than a dollar/share, he just took his losses for 2002 as a tax break and sold for 18 cents a share in December.

PS..correction..traded 121 mil shares today..that is phenomenal. I wouldnt be surprised if some of the top dogs at US got in at 7 cents/sh and dumped it at between 10 and 12 cents and made back much of the fortune they lost from BK..and they knew this .would happen by releasing the news that U is out of BK mode(sort of like inside trading),... this caused such a raucus on WALL STREET that it was easy to make a pretty penny today, a one shot deal though. Tomorrow it will likely go back to under 8 cents as there really is no good news in this industry, regardless of US being out of BK.

 

[2BorNot2B]

Good Evening Severed!
Yes ... but I am still in the dark! In the announcement this afternoon the US Common Stock has been cancelled! That makes it worthless except as the veritable "wallpaper". Say I bought a million shares a 7 ct. as you suggest ...... who would give me even 1ct. more knowing that the stock would be cancelled and worthless this PM?
I just don''t get it! Please fill me in!

 

[Severed-N-Happy]

Don''t quote me on this and perhaps someone else will chime in this evening with a better explanation, but one of 2 things will happen after this afternoons BK and stock announcement..1-either uawgq keeps trading as it has been..as a penny stock..or..2-whomever owns shares will receive "X" nbr of shares converted over to the new US stock, whatever that symbol and starting point will be.Obviously people bought and sold today to the tune of 120 mil shares so some investors still think they will retain value..either they''re quite savvy ... or superbly dumb.!

 

[2BorNot2B]

Severed:
Thanks for taking time to reply! Your last post made sense. I will be interested in seeing what transpires!

 

[motnot]

----------------On 3/31/2003 4:34:18 PM Severed-N-Happy wrote:
Don''t quote me on this and perhaps someone else will chime in this evening with a better explanation, but one of 2 things will happen after this afternoons BK and stock announcement..1-either uawgq keeps trading as it has been..as a penny stock..or..2-whomever owns shares will receive "X" nbr of shares converted over to the new US stock, whatever that symbol and starting point will be.----------------​

Yes, it will be Number 2, whoever owns shares will receive X number of shares in the new stock.

X equals zero.