Pro Elite makes Deal with Showtime and CBS

[MMA_scientist]

Last week, if Edman would have spent $2k on ProElite shares at .03 cents... he could have bought 66,666 shares. They are now going for .47 (actually .48 is the ask, so you can't but it cheaper than .48). But his 66,666 shares would now be worth $31,333. He would have done awesome. If it does actually go up to $4 share again (it was at $50 in 2007), his .03 shares would be worth $266,664. Not a bad return for $2k invested. And if it makes it back to $20, which is not unfathomable, his shares would be worth $1,333,320. Ed would be a millionaire.

But he didn't buy at .03. But you can see how these guys like Scott Coker get very rich. Because Coker had a lot more than $2k in.

But you can also see how the stock price of these small companies can be manipulated. Ed buys at .03. Then he goes on BE and makes an official announcement that ProElite has a tv deal (which they don't yet). The stock goes from .03 to .47. Ed sells. It doesn't take much to move the needle.

[poopoo333]

Ok I am gonna go ask my mom for $200 brb

[MMA_scientist]

But stocks go up all the time, it is very hard to predict what these small stocks are going to do. I did some research on it... There are 55.1 million shares. There are analysts on all three side, (Buy, Sell, Hold), most are saying hold. But you don't make money following the crowd. A bunch of shares were bough in July... so someone knew something. It is a definite gamble... but it has gone up 2% today. You have to have the stomach for it, but it could turn out. Like I said, I doubt anyone knows the market as well as we do. That said, I do not think they are viable long term. But who knows, there needs to be a strong #2, and maybe you can hang on and wait for them to get purchased by Zuffa.

[poopoo333]

What stocks do you hold right now?

[MMA_scientist]

I have about 30 stocks. My best stock right now is ContinueCare (CNU). I just bought Apple this morning because I have been wanting to buy it, but it took a price dip with the market so I grabbed it, it is expensive though $368 a share today. But it was at $400 a couple months ago. Everyone, almost everyone, agrees that Apple is a buy right now. A lot or people think it will double in the next 2 years. I am holding it for the long term. Stuff like CNU, I generally hold for 1 year (if a loss, I sell prior to the year, if a gain, I wait until just after 1 year to get teh long term capital gains tax instead of the hight short term tax). I have made 50% on CNU in a couple months. My worst is AFAM, which I have lost 40% on. I think it will come back though.

[edman5555]

It looks like this company is gearing up for something solid.. They hired Rich Chou, former Strikeforce matchmaker. They also have Gary Shaw, he was/is a boxing promoter. The guy that is the head, T.J. something or whatever, is the former head of ICON sport. These guys have done shows before. IF Viacom really owns a large part of this company, they might have intentions for it. I don't know though, in one place I read that the company that bought Pro Elite got 95 percent of the shares. In other places I read that Viacom has 11 million of the shares. It is hard to tell. Regardless, these are the guys that also tried to buy STrikeforce a while back via ProElite. They made a 40 million dollar offer apparently. It seems to me like a gamble, but maybe a really good one. More than +1000 if it pays off. Closer to +30000.

[MMA_scientist]

Just looking at the chart and the news releases, they look like they are planning on getting back into the fold. They also own Cage Rage. I don't know if they can get back to $20 per share. They had Kimbo before right and he was carrying that thing... maybe they can get Hershel Walker after Zuffa drops him. Although Overeem is the new Fedor, so, they might be able to get a big time fight if they can get Overeem.

[edman5555]

Yes they are def planning something. Hard to tell what though. They have experienced guys and it sounds like they have cash. The two most important factors IMO.

My question is this. I read that Stratus group bought 95 percent of the shares. I also read that Viacom owns 20 percent of the shares. 95+20 = 115. WTF.

[edman5555]

I have to wait until frickin friday until my Etrade account money transfer completes intself.

[MMA_scientist]

That cannot be true, unless one bought first and the second bought some of those shares from the first. It really doesn't matter to you though. There are 55 million shares, and 35 million floating shares- there has been no insider activity in the last several months. That means that no one who runs the company has been purchasing or selling.

Nothing is going to change before Friday.

One thing I shoudl warn you about trading OTC stocks (pink sheets). There is not always a buyer out there at your price. With stocks on the indices, you press sell and it is sold within seconds. That is not necessarily true for OTC stocks. So when you go to sell, you might get partially filled at one price and then partially filled at another price or it ma just sit there for a while.

[edman5555]

Also. If the price is at 48 cents(current) can you ask a lesser amount? That is the impression that I get. I saw todays trades and it spiked down to 37 cents at one point. I am thinking about putting in an order request to buy X amount of shares at 40 cents or something like that. See what happens.

[sbjj]

Put a limit order for the day(or good til cancelled) for whatever price you want. Just DO NOT invest more than you are willing to lose. this thing can drop back to 3 pennies in a week.

[MMA_scientist]

Yeah, you can ask for a lesser amount. Right now the bid is .37 and the ask is still .48. That probably means that it got partially filled at .37. Most of the time, it doesn't work, but it can. I have tried it many times and I have never been able to get a better price. I don't trade OTC stocks though, so it may be more common with those stocks where the total volume is lower.

[sbjj]

Just put an order in for .38 to .40. And depending on the volume, you may get lucky(or unlucky) and get filled. I have a feeling you may be able to pick up a couple thousand shares at that price.

[sbjj]

The fact that we are looking at 7700 shares as the volume is scary.