#CBM News Wrapup
29 messages in this thread
Anyone care to post a quick summary of the last two weeks' news about
Commodore's state? I just read the last few days of messages, and didn't find
enough meat *or* rumors. 🙂
John,
There isn't anything to summarize. The rumor mill rolls along with faery tales
… HP bought them, Sony bought them, Philips bought them, Tom Arnold bought
them but Roseanne made him give it back, etc.
Really, Tom Arnold bought them??? That could explain why they want a
divorce. 🙂
Richard -> AutoPilot on the A1000
Commodore stocks are down to .875$, NYSE has droped them because they don't
deal in penny stocks and everyone is just waiting for the other shoe to fall
personally I hope someone buys them out. ANYONE could have managed Amiga
better!
Yeah david maybe you're right but will anyone want to pick up the ball
after Commodore have fumbled it and fumbled it and fumbl… etc
STARFIRE cruising the stratosphere
MOTOROLA 040 and AUTOPILOT ENGAGED!
Maybe, if it gets cheap enough! I'm afraid though that whoever buys the
technology will just dump the existing Amigas and start over with something new
that's not compatible with anything we already have.
Just ignore me–it's Sunday night and I'm feeling pessimistic!
Marion
Publisher, CROSSINGS
(Newsletter for Amiga/PC/Mac compatibility)
David –
I haven't checked today, yet, but last time I checked, Commodore was still
listed on the NYSE, just not trading there.
Jeff Schweiger
I think it closed at $1.00 today or yesterday.
wmc – via Autopilot!
Let me see… It closes at $1.00, so they resume trading on the NYSE.
Buyers sell out, it drops below a buck, and they suspend trading again.
Via other exchanges, it slowly creeps back up to a buck, and they resume
NYSE trading again.
Am I following this correctly? <g>
Chris – Fast and Low on my '020!
…Is it significant that my spell checker doesn't know "Intel"?
Chris –
Commodore stock is trading on other exchanges, and OTC, not on the NYSE at
present. It is still listed on the NYSE, but has not opened for trading
there since March 25. The last Commodore (CBU) trade on the NYSE closed
at 3 on March 25.
Jeff Schweiger
Thanks for keeping me straight on that!
Chris – Fast and Low on my '020!
…Is it significant that my spell checker doesn't know "Intel"?
"It closes at $1.00, so they resume trading on the NYSE."
As far as I know, Commodore stock is not trading on the NYSE and the reason
for this is because Commodore may have fallen below the minimum financial
requirements to be listed.
Thus, unless Commodore itself held a huge block of freely tradable stock in
itself, the stock price makes no difference in their being restored to NYSE
trading.
RIght now, if my information is correct, Commodore is being traded only on
the regional exchanges. A single sale at $1 is a possibility, but sure as heck
not necessarily the start of a trend or anything.
Commodore would have to announce some really major good news to create much
of a demand for their stock.
Even the presence of a buyer for the company would probably not make any
difference in the price of the stock since such news would have to be disclosed
publicly literally as soon as an agreement was reached. If Commodore stock
starts trading at ever-increasing prices without any kind of major, favorable
announcement, you can bet there will an insider=trading investigation.
In terms of someone trying to acquire stock on the open market in
anticipation of making some kind of offer, they have to start reporting to the
SEC as soon as they accumulate 5% of the shares. I think Commodore has
33,000,000 shares outstanding, so someone would have to pick up 1,650,000
shares to get to that point – an incredibly huge buy for a stock trading on
regional exchanges.
Bottom-line: if there is good news for Commodore on the horizon, it has to be
made public before or just about at the same time you see any significant
uptick in their stock price.
A single transaction at a buck doesn't quite fit that pattern, especially
when the trading volume isn't known.
Jerry
Go Basiquotes and ask for CBU. Either it is trading or CIS and all the
newspapers that I looked at the weeks closing stocks in are lying.
wmc – via Autopilot!
"Either it is trading or CIS and all the newspapers that I looked at the weeks
closing stocks in are lying."
It's never stopped trading on the regionals. Only on the NYSE.
Jerry
I thought the BasicQuotes was from NYSE and the closing quote in the paper
was under the NYSE heading, I believe.
wmc – via Autopilot!
I don't know about BasicQuote, but I've seen absolutely nothing to indicate
that Commodore stock has resumed trading on the NYSE. Someone else may have
more recent information.
Jerry
Jerry,
Well, I checked the news item on it referred to from basiquotes but it was
so terse and I'm know economics/financial wiz, I didn't know what it
meant. Maybe it was a suspension, but it was dated at 2:30 PM Friday (I
checked it last night).
You may be 100% correct. But the papers and CIS certainly don't make it
clear to the neophyte like me.
wmc – via Autopilot!
It is NOT trading on the NYSE which is where it is listed. That does not
prevent it from being traded on secondary markets. Those are the trades
you see reflected in the volume when you GO QQUOTES… and if you'll
notice, when you read the news stories attached to the QQUOTE of CBU, teh
NYSE announces each day those stocks that are NOT available for trading.
Great… I own .29% of Commodore… only 1,550,000 more shares to go! 😉
You have 100,000 shares of Commodore? Boy – I hope you like Maalox.
Hey I have some too!
I bought 8 shares about 2 years ago… Just for the heck of it!
Anybody else want to comment on how many shares of C= are represented on
CServe?
Zeddock
8 shares is to walking across the road as 100,000 shares is to jumping off a
cliff with a towel for a parachute.
1,000 here – "hey I thought CD32 was supposed to be a hot seller!!"
wmc – via Autopilot!
Are you the one who did the large buy a week or two ago? Some one
individual bought 100k+ in a single day and I've been wondering who…
— Dale L. Larson, Intangible Assets Manufacturing
— INTERNET:dale@iam.com
Well, the stock was purchased all at once, a few weeks ago.. so, I guess that
was me. 🙂
Chris,
I have to admit to not following it all that closely, but I was under the
impression that it was only suspended for a couple of days due to an
"imbalance" in sellers to buyers. Then as far as I knew it went back on
sale at 5/8 and slowly climbed over a couple of weeks to 1.00. I was not
aware of any repeated suspensions.
wmc – via Autopilot!
Wayne:
Commodore announced in March that trading in its stock on the NYSE had been
suspended because it may have fallen below the financial requirements for
listed.
A Commodore official, Hock Tan, later said that the suspension would be only
temporary. On the same day or shortly thereafter, Commodore issued another
press release stating that Mr. Tan was in error.
As far as I know, Commodore stock has not traded on the NYSE since late
March.
Jerry
You have the right sequence of events, just the wrong people. It was Jeff
Porter that stated trading should resume in only a matter of a couple of days.
Later that day in a phone interview Hock Tan reversed Porter's statement and
said trading would not resume, and gave no time estimate as to when it would
resume.
Richard -> Autopilot on the A1000
Thanks for the corrections, Richard.
Jerry