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Radium,
Yes, that is difficult for me to wrap my head around. The board obviously promoted it to the major institutional shareholders. If memory serves, there was a large amount of dissenting votes.
I totally believe they slipped the wool over our eyes on this one...but realize it's entirely my fault for not paying attention. It was my fault for believing the board and senior management would look out for our interests as well as the best interests of the health of the company. Senior management was looking out for Senior Management. Let's hope the parasite doesn't kill the host.
dog re ...The lack of respect they showed the owners of the company, which are the shareholders, still angers me.
The difficulty here is, it was the shareholders that voted through those obscene compensation packages.
I misspoke below. All but 500 of my ADR units are now under water.
The NASDAQ IPO was bust. The market is showing us zero respect, as did senior management with their obscene pay packages.
Gotta go with dflynch on the two below posts.
Malbright,
Pre market and post market trading is pretty much the same as regular trading hours (RTH or outside RTH), but there is a huge difference in liquidity.
The bid and ask are simply that, somebody bidding for a stock at a certain price vs somebody asking for a price for shares of the stock they own. It can be dangerous to trade outside RTH, but it can work in one's favor as well. The key is less liquidity and less price discovery. I have filled almost all my TRMR ADR units outside our RTH (USA) by placing good till cancelled bids at a price at which I was willing to pay. It worked out short term, but long term I am way under water with the TRMR ADR units. All but 2,000 of my ADR units are under water, but that's not due to a short term trading eff up by me. I am not a trader, and I am convinced my holdings in both the common and ADR units will pay off. Too bad most of the rest of the market isn't convinced...fingers crossed that changes.
It's all up to our overpaid pigs that run TRMR to execute. These guys truly put the cart before the horse in the obscene compensation packages they awarded themselves long before the earned it. Obviously this rubs me the wrong way. The lack of respect they showed the owners of the company, which are the shareholders, still angers me.
"Modern electronic exchange mechanisms ensure that differences in the stock prices (arbitrage) are closed in milliseconds. "
Not true. See BEM quoted on AIM and on a Swedish exchange for example.
Arbitrage opportunities occur because market participants have a differing view on an SP, exchange risk, and the supply / demand availability of the underlying share in the market.
It is however correct to assume that eventually the arbitrage opportunity evaporates - but this is over time and not necessarily in millisceconds
In general, the stock prices on both the US and AIM exchanges will track each other. Modern electronic exchange mechanisms ensure that differences in the stock prices (arbitrage) are closed in milliseconds. That’s not to say that arbitrage opportunities don’t occur. You may find the information that you're looking for by doing some further research under the heading, ‘Arbitrage Trading’.
Can somebody please enlighten me as to how the pre-market trades work in USA. Who for example strikes the trade price ? Does a party actually conclude an actual trade (purchase) at the price shown or it it simply a strike price at which they hope to trade when the market opens. I check pre-market trades and quotes on the Nasdaq official site but I still don’t understand how it works. We are definitely in the world of the tail wagging the dog, as our original AIM listing and pricing is entirely now under the spell of what happens in the Nasdaq listing.