I bought a stock adelphia commuication a while back?

Question

it was penny stock and then adelphia was absorbed into time/warner, I thought wowI have hit the jackpot but over time adelphia drop to zero, I held on to it and now its worth .17, why am I not a millionair, what can I exspect?

Answer 1

Just another reason why NOT to buy penny stocks.



and



Never buy a stock while in bankruptcy.



The stock is worthless. There are people who have no clue what they are doing and trading the worthless stock with each other.



When I was running a hedge fund, Adephia was on my Bankruptcy Watch List back in early 2001. We were aggressively shorting Adelphia among other companies that eventually filed for BK.



Sell the stock now or wait until you get a statement where it is worthless.



Sorry.



I would seek a professional adviser with 10-15 years experience to help you in the future.



Good Luck!

Answer 2

Actually Adelphia was not absorbed into Time or Comcast, but sold assets to Time and Comcast and also Pioneer Tele. Right now Adelphia is in bankruptcy proceedings. Assets received from Time and Comcast went first to pay creditors. Over the next five years, if anything is left over, stock holder may see a portion of the assets, but it will be, at best, pennies on the dollar paid in, and probably not even that much.



To see some of teh documents filed with teh courts, go here:



http://www.adelphiarestructuring.com/RecoveryTrust.aspx

Answer 3

Hey,

Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share. They are notoriously risky but if you follow a special method I've learned you can earn good money at almost no risk. This is the site I use: http://pennystocks.toptips.org



I definitely recommend subscribing to this site in particular. Very good research, quality stocks. I was a bit weary of penny stocks from all the bad hype they receive but this guy is pretty legit. He's put my mind at ease with a lot of the fears I've had. I especially like that he doesn't send out announcements left and right. I've signed up for other websites that fill my in-box with one company after the other. I don't know where to even start with so many choices in front of me! Nathan sends me one idea a week and that's all I need. Working so many hours during the week leaves me with very little time when I get home to start doing tons of penny stock research. I'm always eager to see what Nathan's next suggestion is each Friday and I love having time on the weekend to do my research.



As said above if you want to make money with penny stocks you have to follow some proven methods. This one in my opinion is the best: http://pennystocks.toptips.org

Hope it helps.

Answer 4

Unless you start using some common sense you can expect more of the same.



Consider this a lesson. Now learn how to INVEST, not gamble:



http://www.saveyournestegg.com/diy.html

Answer 5

You are better off shorting penny stocks.



http://timothysykes.com