August started off banging with our first penny stock alert of the month, DirectView Holding’s Inc. (DIRV), gaining 185% in two days. During the same two day period, shares of Knight Capital Group Inc. (KCG) have plunged -78.82%, while TD Ameritrade, Scott Trade, Fidelity Investments, Vanguard Group, E*Trade and Pershing LLC, a division of BNY Mellon, all abandoned ship as the computer glitch incited a riot of loss equal to 4X the Company’s net income from all of 2011.
The first call for the “Q” to be added to KCG stock symbol came from one of my personal favorites, @TMcNasty, who calls ’em like he sees ’em. This would essentially make the Company a “Don Quixote” stock, fighting an unbeatable foe to gain back any investor confidence in the windmill of sellers. And it didn’t take but 2 hours after that the call for the “Q” before Tom Joyce, CEO of Knight Capital Group, to announce that the Company is considering bankruptcy reorganization and a sale of assets.
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KCG Stock Chart
Close: 2.58, -4.36 (-62.82%)
Average Trade Size: 458
Previous Close: 6.94
July 31 Highlights:
When Humpty Dumpty fell off the wall, all the king’s horses and all the king’s men couldn’t put humpty together again. Joyce told Bloomberg the day after glitch part I that the firm had “all hands on deck” to fix a “large bug” that had infected its market-making software and it obviously didn’t work. So what we have here now is a massive set up for a Friday bounce play since the averaging down is sure to continue as KCG long shareholders try to maneuver their way out of an -80% loss.
Knight Capital issued a statement early on Thursday that they were looking to raise funds. After yesterday’s travesty, KCG shareholders have one way to assure that the stock price will gain:
In 2012 , a crack commando unit was issuing penny stock alerts on a fluffed up companies whose shares they didn’t own. These men promptly had the share prices rise from 0.07 to 1.72, 0.34 to 2.40 and have since escaped to the email underground. Today, still the best at what they do, they tease penny stock traders with an upcoming penny stock pick. If you have a stock that is a #2Flusher…if no one else can help…and if you can find them…maybe you can hire…The Awesome Penny Stocks Team.
About KCG Stock
Knight Capital Group, Inc., a Delaware corporation, is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including buy- and sell-side firms and corporations.
Bottom Line: KCG stock, now officially a penny stock, is on high alert for Friday, as is E*TRADE Financial Corp. (ETFC) which was also affected, as a bounce / swing trades. KCG stock could easily see a “Q” added to their symbol as their CEO mentioned after the close which obviously means that the stock price is set to gap down on the open.
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