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Motors Liquidation Company (MTLQQ.PK)
Just wanted to know if anyone else has had the balls or the stupidity to dabble in this new Motors Liquidation Company. I have a few partners that I make some group buys with from time to time and we've made some great profits in the last few months and all three of the other guys wanted to buy this when it was at 0.95 on Mon/Tue of this week. I told them it was going to go up to the July 10th number of 1.15 (thats when the MTLQQ.PK tool over) and bounce back down.
Well on Wednesday it bumped up just past 1.15 to 1.20 and they were giving me a little crap saying we missed the boat. By the end of the day it dropped to 0.73 and they were all thanking me for saving us. Anyway, my prediction about bouncing off the 1.15 mark might have just been a coincidence but this is the first time that a trade decision has saved me and my partners from some significant losses. Just wanted to share.
DONT BUY DONT BUY....haha i discussed this with my broker last week that stock will cease to exist eventually until then its just a gamble.
Well of course its a gamble...its a bankrupt liquidation stock...we are well aware of the risk involved. I'm just glad we avoided a 35-40% loss on an investment.
Up 31% today...we tried to buy it this AM but couldnt get any shares for some reason...something weird going on there that I def didnt understand...oh well...another missed oppty! :slug:
