I've never experienced anything like this. The negativity is just looming like a storm cloud.
How is everyone doing out there?
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Camden- WRONG AGAIN: "It received its letter of delisting on September 29 and reported it publicly on October 3." The letter regarding the $1 violation was issued back in June.
The spin doctors at EDMC will make sure OHE workers are kept in the dark about this issue. Sure they'll send an email here or try to do damage control there but anybody still employed there needs to get the hell out. You literally aren't going to have your job a year from now. EDMC is, right now, where Corinthian was financially a year ago. I just hope no one's resume from EDMC comes across my desk - it'll get tossed faster than you can say "confirmed need".
Whoa, hold on there, Ball Licker- so there's 2X upward demand for the stock, right now- however, this might not be the right situation to apply standard day-trader wisdom; 1. the float is relatively small (seems like it's often oversold), so bottom-feeders may be flooding in, trying to make a few pennies with relatively little risk and this is likely to distort the picture, don't you think? and 2. at 87 cents a share you have to buy an awful lot to make any real money on this thing. Last time I looked there were only a couple million shares rattling around on the market. So you buy 3-4000 shares and maybe the stock shoots to 5$- (not impossible but highly improbable) you look like a genius, but you have better odds taking the $4000 to Vegas and putting it all on red, no? If, for some reason (and there are several really good ones) the restructuring deal either fails or is stopped by a court action, the company may likely push itself into bankruptcy in June, 2015, thereby destroying every bit of good will and all of the equity (as well as collapsing the share price to Corinthian levels) - game over. (Now, if you said you bought a couple hundred thousand shares I'd have been impressed.) (I'm also tempted to say "if your friends jumped off the George Washington Bridge, would you do it, too?")
This is way over your head but the uptick on this is almost 2.0 which is for me a great new year gift!
So how's the job sucker? Lie to any minorities today? Maybe you were just busy hiding under your desk fearing that moment.....
For you, it will come....
DId Corinthian Colleges have big layoffs or close? Aren't the school still open and operating?
Where did the 11 billion dollars EDMC took from taxpayers end up? Is it in Switzerland? Can we get it back?
People who invested in this dishonest and exploitative company deserve to lose their money. It is retribution for mindless greed.
I like to pretend I know what I'm talking about but I have nooooooooooo idea! Why won't south university accept my ged! I bought it online! Follow me on twitter!
Corinthian Colleges has been at less than a dollar since mid-May. It received its letter of delisting on September 29 and reported it publicly on October 3. EDMC is following a similar flight path as Corinthian Colleges (what I call the "4Profit Zombie College Crash"). It should be interesting to see if criminal charges are eventually filed, as was the case with Corinthian Colleges recently. Just because Goldman Sachs has backed EDMC, that doesn't mean that EDMC officials will be shielded. Corinthian Colleges was backed by Wells Fargo. EDMC is not alone; several more 4-profit colleges are following a very similar path.
closed at .87 cents...yikes!
I think that they get delisted in NY if the stock drops below one dollar for a period of one week. They were at 87 cents when I last looked.
Interesting with the dozen class actions started over the last week if any of the EDMC directors are held accountable for what may be serious crimes and go to jail. There should be also an investigation of Goldman Sachs involvement.
Delisting usually happens before a company goes into bankruptcy. If I was one of the tens of thousands of unfortunate students still there I would start investigating the possibility of getting credit to transfer to an non EDMC college as soon as possible.
Teachers and admin staff need to be careful that they are mot caught soon with no notice termination and wages left unpaid.
I think that they get desisted if the stock drops below one dollar for a period of one week. Delisting usually happens before a company goes into bankruptcy.
If I was one of the tens of thousands of students still there I would start invetsigating the possibility of getting credit to transfer to an non EDMC college.
Teachers and admin staff need to be careful that they are mot caught soon with no notice termination and wages left unpaid.
Here's a horrible thought - even when edmc dies and is buried it may come back in a different form. Will come back. Greed never sleeps. Just a couple of days ago I was reading about the companies salivating at the billion dollar untapped k - 12 market
The shitty part is that we'll never hear a peep from anyone above. They all just keep pretending it's all business as usual. And it's like, "DO YOU THINK WE'RE IDIOTS!??!!!??"
We're all thinking/worrying/or maybe even glad about it, but losing our minds.
It's honestly so awful to put all of us through this.
Right now it's at .87! Hang on to your HATS
I think if it gets it stays below 1 dollar for 30 days in a row it gets notice it's in violation of NYSE minimum price regulations. Sock can still be bought and sold but they will be asked to leave the NYSE. No one is going to risk investing in a stock like that except high rollers who can afford to lose it all with no problem.
I am not a stockbroker bit if recall my conversation with a friend, once a stock drops below 1.00 its called a penny stock. There are lots of penny stocks out there and people do buy them but they are considered highly speculative. Like buying a lottery ticket, they are cheap to buy but unlikely to go anywhere. Also if it stays under 1.00 for some specific amount of time, they get kicked of the stock exchange.
Why do we keep hiring new people? What is going on?
Time to buy! ;)
And so it begins.
It hit .91 at one point.. that being said, my shit grin couldn't get any larger. Go 'head, hate on me all you koolaid drinkers.. I love iiitttt.