GOGB Dropped

I've finally dropped GoIP Global (GOGB, previously GOIG) from my portfolio - since the value was worth less than the commission to sell the shares, it wasn't worth hanging onto, and I doubt any charity would have accepted the shares. And so, I called my broekr and asked them to drop it from my portfolio.

Since I sold half of the shares earlier and doubled my money, the total loss on the remaining half means a break-even, less commissions, on the investment. Considering how hard it was to dump the shares, I consider myself lucky to have gotten out without having lost significantly more.

Weekly Summary

My portfolio's been looking better in recent weeks - between the ups and the downs, I'm back on top by an appreciable margin:


Of all my positions, I've got two that are serious losers: GOIG has fallen to a small fraction of its former value. Rather than waiting for it to fall off the books, I'm going to donate my shares to charity and write off the purchase price as a deduction - and MIVA has been teetering on the brink, and has finally fallen beyond the point of no return: unless it takes a leap upward after the bell on Monday morning, I'm going to cut my losses on that one as well.

Weekly Summary

The market in general has been in chaos this week, and my own holdings are down. On the bright side, I'm still in the black ... by about a buck:


I'm still trying to dump my shares in GoIP Global, but there simply isn't sufficient value to unload them at any price - my sense is it won't be long before the stock price won't cover the commission to unload them, and I'll end up taking a total loss.

Weekly Summary

Another week has gone by, and the ups and downs in my holdings have once again balanced out:


SOYO has puts its toes across the point of no return (a 50% loss) and I will be looking to unload it and cut my losses unless there's some significant development in the next few days; GOIG has been there for a while, but it's so thinly traded that it's impossible to unload my shares at any price.

On the brighter side of things, I'm beginning to consider when to take profit from KKD, which has shot upward but seems to have reached a new plateau, and FEEC, which I already cashed out my original investment, and whose star also seems to be fading in recent weeks.

GOGB becomes GOIG

In a move that's all to familiar to anyone who's played with penny stocks, GoIP Global changed its trading symbol (GOGB => GOIG) and did a 200-for-1 reverse split on Friday.

Typically, companies do this when they're in danger of being delisted for falling below 0.0001 - and typically, a reverse split is followed by the company dumping tons of new shares on the market, usually before the online brokerages catch up with the name change (hence, you can't dump your shares for a couple of days after the stock is renamed) driving the stock down to its pre-split levels and screwing everyone involved, with the exception of the brokerage that makes a commission, crooked insiders, and the executives who give themselves a fat bonus for their hard work.

But oddly, this didn't happen ... GOIG slipped a bit, then bounced back up.

Granted, trading is still light (one transaction for 2500 shares today, just before the bell), and it's entirely possible that the price is being manipulated ... and there's still plenty of time for the company to dump shares ... but for the moment, it's a strange phenomenon, the likes of which I haven't seen before. There was no press release from the company to explain this - before or after - which is also quite unusual.

I suspect I'm not the only one waiting for sufficient volume to cash out and get free ... and I tend to doubt that I'm out of the woods just yet.