While corporate management despairs of any substantiative change for the better in government policy, one has to wonder where their shareholders and boards of directors were when the major banks destroyed trillions of yen of market capitalization and the major debt-ridden retailers and construction firms drove the price of their stock from the thousands of yen to essentially "
penny stock" levels.
But now, it's practically a
penny stock, so being listed in the California instructional materials catalog could really help the company," Appert says.
With share prices edging toward
penny stock ranges you would think the buying would have commenced by now.
In an ironic twist, the Investor Protection Trust (IPT) was awarded $100,000 by a federal court in Illinois following the settlement of a
penny stock fraud case.
Andrew Delahunty, Sheila Dignen and
Penny Stock. Oxford University Press.
As it turned out, the messages were being orchestrated by a convicted swindier who owned
penny stock in a business with ties to the nutrition company.
Since those shareholders typically buy in at low "
penny stock" prices, in the merger process, the acquiring company is likely to suffer immediate dilution in the value of its shares.
The move would make Cumulus shares move out of the dreaded "
Penny Stock" category.
For those who don't know, pumping and dumping is a scheme often carried out with risky and volatile
penny stocks. A scammer buys a lot of a
penny stock and then hypes it, perhaps online or via email.
penny stock - a stock selling for less that $1/share