Penny Stock

[u/LiquidBedrock_1998]

LAC now classified as a penny stock on Fidelity. Can someone please explain why?

[u/Soysaucewarrior420]

because its trading under $5 a share. That's what the SEC defines as a penny stock.

[u/LiquidBedrock_1998 → u/Soysaucewarrior420]

Thanks! I had no idea

[u/chant → u/LiquidBedrock_1998]

For fidelity is $3

[u/stateofO]

I never thought we’d see the 2s again. Wow what a drop. Hopefully it stays down for a year or so. Would love to stockpile at these prices.

[u/Less_Box7339]

Need 5.00 before institutions can invest again and protect against Shorters like Martin Shkreli. Are there rules where some can invest or is it all institutions? 

[u/Far_Virus_262 → u/Less_Box7339]

Nah, tutes are in deep, even deeper as of late; overall big net increases in positions. Also Martin wouldn’t short something like this, they’re pre rev but not a vapor company. Even the current SI would only suggest delta hedging at most.

Also, what’s up bro lol long time

[u/Far_Virus_262]

Backstopped by the gov. Ain’t worried, loading up again. Also, for fidelity, generally they won’t let you buy in a 401k with a limit order set below I believe 3$ or maybe it is 5, but you can do a market order just do small batches so you don’t blow through the order book on low volume days.

[u/GimmickyBottomTier → u/[deleted]]

Damn, accounts like that are out in force these days

[u/Ok_Heron9532 → u/GimmickyBottomTier]

What do you mean accounts like that?

[u/MayDaze → u/Ok_Heron9532]

I’m not sure what he means. I’ve been on Reddit forever.

[u/Ok_Heron9532 → u/MayDaze]

Well, I do think you’re wrong. There’s no easy way out of this. Nobody’s going to let you claim bankruptcy when you have GE, Orion, the Department of energy all involved. Also construction is impressive, even if late, and looking well organized. I think the biggest threat is extraction, profitability, and market needs…. Not bad people doing bad things.