Is This True?

CalTrade

Junior member
25 3
When I first began trading stocks, I made a few mistakes. One of them involved buying a stock based on nothing but a gut feel. Don't worry- i don't do that any more.

I ended up buying 100 shares in Orbit Garrant Drilling (OGD). I watched as the stock continued to plummet. At one point, I think it actually went down to 0 or close to it.

Someone told me that if a stock totally tanks and you still have shares (albeit worth nothing), that you are not allowed to participate in its recovery, if it does recover.

Is this true? Is OGD still an active stock- as in, not dead?

I own 100 shares of it that I purchased at $1.54. What would you do with it? Is it even still viable at all?

Thank-you

Francis
 

MasterOfCoin

Established member
947 371
Someone told me that if a stock totally tanks and you still have shares (albeit worth nothing), that you are not allowed to participate in its recovery, if it does recover.
Codswallop.

If the company is still trading and recovers, you still own your share of it.

When it ceases trading or goes into administration, then you'll lose out.

Shareholders are pretty much bottom of the heap when it comes to divvying up any spoils.

😐
 
 
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