The Motley Fool Discussion Boards
Investing/Strategies / Spinoffs
|Subject: NSDM||Date: 3/15/2007 12:50 AM|
|Author: nomes79||Number: 106 of 120|
Before I got on the Fool, I had a momentary lapse of judgment in the world of quick trade sub-penny stocks. I bought many shares of North Star Diamonds--a stock that was going for half a penny a share when I bought it. I figured I could use the small cost to learn something about something. And I learned quite a bit about what not to invest in...small money well-spent.
Anyhow, the company has been engaged in a series of spinoffs, which look no better than the parent company...including a company based on a partnership that the partner company denies entering into. At this point, I have significant shares in the restricted, not-yet-listed stock of companies that I expect to be worthless.
I am relatively new to the stock market, and to spinoffs as well. I am wondering if someone could tell me (if any companies that are involved were reputable), where relevant information about the spinoffs would be. Also, are there government filings anywhere that one could look up?
Also, this may be a question more appropriate to the Quicken board, but, when I updated my account, the system read the "price" of the restricted stocks at $55.10 a share! I KNOW that my $50-ish investment is not going to make me a millionaire, but I like seeing those numbers in the account...does anyone know where Quicken gets its update numbers, and why do they have these shares priced so high? Thanks in advance!
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