panamair
Posts: 3766
Joined: Fri Oct 12, 2001 2:24 am

What's Up With Delta's Stock?

Sat Sep 16, 2006 12:53 am

I know that Delta's stock (symbol DALRQ.PK) will be pretty useless when they eventually emerge from Ch.11 and any activity in the stock at this point is not a good measure of the company's performance but the stock has shot up 25-30% just today in the first three hours of trading..it had been rising a little the past few days (presumably due to lower fuel prices) but nothing like today's activity...Anyone know what's happening? New merger rumors again?

http://finance.yahoo.com/q?s=DALRQ.PK
 
jhooper
Posts: 5560
Joined: Thu Dec 13, 2001 8:27 pm

RE: What's Up With Delta's Stock?

Mon Sep 18, 2006 12:52 pm

Too bad I had bought $100 worth at $0.80 and sold it two days ago at $0.92, too bad I couldn't wait three more hours! My luck!
Last year 1,944 New Yorkers saw something and said something.
 
ptugarin
Posts: 214
Joined: Sun Sep 03, 2006 6:09 am

RE: What's Up With Delta's Stock?

Mon Sep 18, 2006 11:37 pm

I currently own 2000 shares at $0.76
 
luv2fly
Posts: 11056
Joined: Tue May 13, 2003 2:57 am

RE: What's Up With Delta's Stock?

Mon Sep 18, 2006 11:45 pm

What you see here is day traders buying and selling left and right, most likely they are the ones causing the spikes to happen.
You can cut the irony with a knife
 
panamair
Posts: 3766
Joined: Fri Oct 12, 2001 2:24 am

RE: What's Up With Delta's Stock?

Mon Sep 18, 2006 11:45 pm

Well, DALRQ.PK is at it again.....trading volume today is already triple the normal average, and it has gone up another 25% today so far to $1.38, only 1 hour 15 minutes after the market opened....And no, oil is not a factor as crude futures are actually up a little at this point....
 
DLPMMM
Posts: 2128
Joined: Wed Apr 20, 2005 12:34 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 12:02 am

And tulips were selling for huge prices in AMS at one time.

It's all just the bigger fool theory in action.

In the long run, Vegas would be a better place to "invest" your money.
 
ptugarin
Posts: 214
Joined: Sun Sep 03, 2006 6:09 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 12:05 am

It cannot just be a spike as this is a huge change, and highest in more than a year. I think this is a sign of Delta´s recovery from bankruptcy , as well as investors´confidence that international expansion will bring delta out of the darkness.
 
panamair
Posts: 3766
Joined: Fri Oct 12, 2001 2:24 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 12:09 am

Trust me, I'm not even remotely contemplating investing in the existing DAL stock - just curious as to what the rumors and scuttlebutt are out there that are driving the significant buying in the last two days.....someone or some people are doing a lot of buying...it's now up to $1.48, i.e., up 35% since Friday.
 
Pope
Posts: 3995
Joined: Thu Mar 24, 2005 5:57 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 12:44 am

Reminds me of the joke.

Do you know how to make a million dollars in trading airline stocks?


Start with a billion dollars.
Hypocrisy. It's the new black for liberals.
 
Lt-AWACS
Posts: 2120
Joined: Mon Jan 14, 2002 2:40 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 12:52 am

WorldTraveler is buying up shares...I kid, I kid.

The trade volume spike makes me think day traders with some bad (or maybe good) rumours but with "penny" stocks you never know.

I'd only buy with "play" money or Vegas money as mentioned above not for anything needed in the short term. .02  Wink

Ciao, and Hook 'em Horns,
Capt-AWACS, Aachen-full of hotties since 875
Io voglio fica ogni giorni da mia bella moglie!
 
luv2fly
Posts: 11056
Joined: Tue May 13, 2003 2:57 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 12:53 am

Quoting Ptugarin (Reply 6):
It cannot just be a spike as this is a huge change, and highest in more than a year. I think this is a sign of Delta´s recovery from bankruptcy , as well as investors´confidence that international expansion will bring delta out of the darkness.

It has nothing to do with what you said. As when DL emerges from bankruptcy the stock they now have most likely will be voided and they will start fresh. Though believe what you want to. Mom always said, "A fool and his money was soon parted!"
You can cut the irony with a knife
 
jhooper
Posts: 5560
Joined: Thu Dec 13, 2001 8:27 pm

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 1:37 am

I can't believe it....I've held on to this junk stock for awhile now and I sell it literally minutes before it practically doubles in value!
Last year 1,944 New Yorkers saw something and said something.
 
ptugarin
Posts: 214
Joined: Sun Sep 03, 2006 6:09 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 1:49 am

Quoting Luv2fly (Reply 10):
the stock they now have most likely will be voided and they will start fresh

Did US stock get voided if so, what were the consequences to the shareholders?
 
luv2fly
Posts: 11056
Joined: Tue May 13, 2003 2:57 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 1:51 am

Quoting Ptugarin (Reply 12):
Did US stock get voided if so, what were the consequences to the shareholders?

Both US and UA voided old stock once emerging from bankruptcy and issued new stock.
You can cut the irony with a knife
 
Zone1
Posts: 894
Joined: Sun Jan 09, 2005 4:47 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 1:59 am

Looks like a good time to short the stock and use those profits to buy the new DAL when issued.

Quoting Ptugarin (Reply 12):

Did US stock get voided if so, what were the consequences to the shareholders?

Yes their stock got cancelled. Basically you see the shares in your portfolio one day and the next, they disappear.
/// U N I T E D
 
ptugarin
Posts: 214
Joined: Sun Sep 03, 2006 6:09 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 2:27 am

Quoting Ptugarin (Reply 2):
I currently own 2000 shares at $0.76



Quoting Zone1 (Reply 14):
Looks like a good time to short the stock

Just sold mine at $1.52
 
panamair
Posts: 3766
Joined: Fri Oct 12, 2001 2:24 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 2:46 am

At $1.60 now; that's up close to 45% just today. Trading volume is in the 11.3 million range (average volume is 1.3 million a day); 52 week high was only at $1.19

[Edited 2006-09-18 19:50:22]
 
AeroWesty
Posts: 19551
Joined: Sat Oct 30, 2004 7:37 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 2:54 am

Quoting Zone1 (Reply 14):
Looks like a good time to short the stock and use those profits to buy the new DAL when issued.

This is a good question whether you could actually do that or not. It's been too many years since I knew all the rules. I believe you can't short the stock of a bankrupt company, because the stock doesn't qualify to be margined. But who knows, rules change, perhaps you can now.
International Homo of Mystery
 
Zone1
Posts: 894
Joined: Sun Jan 09, 2005 4:47 am

RE: What's Up With Delta's Stock?

Tue Sep 19, 2006 8:21 am

Quoting AeroWesty (Reply 17):
This is a good question whether you could actually do that or not. It's been too many years since I knew all the rules. I believe you can't short the stock of a bankrupt company, because the stock doesn't qualify to be margined. But who knows, rules change, perhaps you can now.

After doing some checking, I do believe you are right. They do have options trading though. So it looks like a good time to buy some January 2007 or 2008 put options!
/// U N I T E D