Don't get caught in stock scams

[OZ Stoners]

It may have one of the biggest bloopers in the stock market this year. In October, when Twitter Inc announced its impending IPO, thousands of eager stock buyers raced to be the first to invest. Instead of buying Twitter shares, those investors wound up purchasing thousands of shares of a bankrupt electronics company, Tweeter Home Entertainment Inc. "... We've seen other circumstances where ...

 

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[OZ Stoners]

Eager investers who jump in too quickly to buy a company's stock put themselves at risk of investing unwisely or getting caught in a scam.

 

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[Train Wreck]

 When I clicked on this, I thought it would be about growers getting busted by farmers stock cams.....

[brick]

I think this is bullshit. If a company is bankrupt or placed in administration, which usually comes first, it is suspended from trading on the stock exchange. In Australia anyway. It would have to be the same in other countries.

[Cyclops]

I think this is bullshit. If a company is bankrupt or placed in administration, which usually comes first, it is suspended from trading on the stock exchange. In Australia anyway. It would have to be the same in other countries.

 

I think this is bullshit. If a company is bankrupt or placed in administration, which usually comes first, it is suspended from trading on the stock exchange. In Australia anyway. It would have to be the same in other countries.

 

Yes your right Brick.

[Train Wreck]

Some companies continue to trade, even when the hierarchy know that they are going out the back door.  Pyramid Building Society,  ring a bell ??.......  

[brick]

But then they should have the full force of the law come down on them. I also think you will find the laws have changed since Pyramid.

[Train Wreck]

The laws probably have changed. It still does not really deter this from happening. What is a couple of hundred thousand $$ fine or less to a white collar criminal/board, making hundreds of thousands or millions a year? It still goes on, along with insider trading. They hide their assets within the family.

You can't take something from them if someone else has title to it.

The public are the one's who are last to know anything, usually too late by then as most of a companies assets have been stripped or it has lost most of it's value.

[brick]

Yes but there are a few who have been caught and are paying. Unfortunately ASIC is a toothless tiger and have been known to get into bed with administrators. I am a believer in Karma though.

[DoctorWho]

If it makes any of you feel better the greedy bastards that do this kind of thing are usually shit scared of ill health and death so they'll spend every last cent they can to live another day.  It won't actually help anyone but knowing that the chances of them losing all their money to die slowly is extremely high might help put a smile on a face or two.