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#1
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seeking alpha article Collectors Universe - A Scandal Waiting To Be Exposed
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-06-2019 at 11:29 AM. |
#2
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Interesting.
If like me you have the site get stuck and refuse to go to page 3 or 4 you can manually change the page number in the URL and get there. |
#3
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this shouldn't help their stock much!
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#4
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It's just another social media or news outlet trying to jump on this scandal bandwagon for click bait. Nothing new that has not been said already.
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#5
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Yes, but a new audience.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#6
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Also a lot of insider sell trading end of last year....
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#7
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It was up a little this morning, down almost 3% right now.
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#8
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Thinly traded stock, a few trades can move it, if it's going to crash that isn't it.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#9
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Sell volume starting to pick up
Thinly traded so far. Volume picking up. Mostly sellers and few buyers. Wonder if the hedge funds that own have read the article? I think it drops to $10 soon. Insiders trapped. Maybe we see a pr on this soon.
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#10
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Down over 5% as of right now (12:35 PDT).
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#11
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Almost 6% with a few more minutes of trading.
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#12
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Reminds me of this....
first a 10% trim job earlier in the week and now this. Still way up from the beginning of the year, but I wouldn't want to be involved. Lost another 1 % in the last minute. While nasdaq was up .05% today these idiot jerk offs lost another 7%. Last edited by Fuddjcal; 06-06-2019 at 02:06 PM. |
#13
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I read Seeking Alpha articles any time they post on a stock I follow. I do not know how many people read them - generally I find them interesting takes on the landscape a company is facing and consider them to be well written. They used to come up on the stock feeds on the IPhone before Apple disconnected their ticker from Yahoo Finance.
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#14
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The article mentions worthpoint for doing research. Does anyone actually use worthpoint?
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#15
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I have used it many times mostly for art and antiques I am too cheap to pay for the subscription...But it is a very valuable service
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#16
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Well, before PWCC was nice enough to give us better access for free, I used to. PSA's tool is only good for front scans, most of the time, since eBay links are usually broken or the sellers do not list them.
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-- PWCC: The Fish Stinks From the Head PSA: Regularly Get Cheated BGS: Can't detect trimming on modern SGC: Closed auto authentication business JSA: Approved same T206 Autos before SGC Oh, what a difference a year makes. |
#17
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Given how close to the floor this board is, one consideration would be to keep the stock on watch and wait until it makes sense as a long.
Too early but an intermediate contrarian play on op leverage cheapness. |
#18
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Any guesses on bottom?
THe volume was up slightly today. From 50k to 85k. Wondering what happens if some (or even just 1) of the larger holders dumps. I am expecting class action lawsuit to drop soon. That will be eye opening. I sent all the links to the major short funds.
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#19
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Can you send the Beckett and SSI threads here too?
https://www.dps.texas.gov/CriminalIn...ions/index.htm Let me know who they assign to the case.
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-- PWCC: The Fish Stinks From the Head PSA: Regularly Get Cheated BGS: Can't detect trimming on modern SGC: Closed auto authentication business JSA: Approved same T206 Autos before SGC Oh, what a difference a year makes. |
#20
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Quote:
If the stock takes too big a hit there might be a way to fashion a securities fraud suit against CU, as well as whatever collector suits against PSA people are considering.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-06-2019 at 04:02 PM. |
#21
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there's not enough liquidity for a major short fund (if there are any major ones left outside of kynikos) to establish a significant short position.
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#22
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Quote:
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#23
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#24
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And remember, barely anyone knows about this scandal yet.
__________________
-- PWCC: The Fish Stinks From the Head PSA: Regularly Get Cheated BGS: Can't detect trimming on modern SGC: Closed auto authentication business JSA: Approved same T206 Autos before SGC Oh, what a difference a year makes. |
#25
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Granted I don't know who you are but once again, as someone who specialized in complex class action litigation, do enjoy the next 12 years as you slowly track a never-ending case. Even if it drops soon and it's eye opening there won't be a resolution for a very long time.
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#26
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Quote:
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-06-2019 at 04:54 PM. |
#27
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A mass action of a few dozen aggrieved purchasers in state court would be way more fun.
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... |
#28
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Mass instead of class works for me.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#29
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At what point does the company have to issue a pr?
This is material information in my opinion. When will they be obligated to speak to it publicly.
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#30
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Quote:
https://www.akingump.com/en/experien...-case-law.html
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-06-2019 at 05:11 PM. |
#31
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Great info!
The knowledge here is amazing. Thanks.
At a minimum any stock sells by insiders would be highly suspect. A public disclosure of major inside selling would raise more than a few eyebrows. |
#32
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If they have planned sales not so much, but otherwise yes.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#33
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Quote:
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#34
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I prefer Worthpoint because it also includes ungraded, memorabilia and basically anything else you want to look up.
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154 successful b/s/t transactions My collection: https://www.instagram.com/collectingbrooklyn/ |
#35
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#36
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Sorry. One of several requirements to maintain a class action is that common issues must "predominate" over individualized ones. Translated, that means roughly that you need to be able to establish liability towards the entire class by common proof and each plaintiff doesn't have to present his or her case. For example, everyone who bought the stock is injured if the company issued false financials and inflated the stock price. Each member of the class was hurt in the same way because the drug was inherently dangerous, or the car had a manufacturing defect.
But if the question is were people hurt because PSA failed to catch altered cards, or stiffed people on the guarantee, or was bad at grading, that feels to me like each and every person would have to show that on a case by case/card by card basis, even if there was an overall pattern. Just showing the pattern doesn't prove YOU were wronged. You would need to show that YOUR card was misgraded or altered or that YOU were stiffed on the guarantee. If that's the case, individualized issues "predominate" over common ones. If the case has to proceed as a boatload of mini-trials, it doesn't warrant class treatment. Somewhat simplified but that is the idea.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-06-2019 at 08:39 PM. |
#37
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Quote:
From an accounting perspective, there is nothing needed to be disclosed, yet. Deemed contingent liability, it needs to be recorded and disclosed if the liability meets more than likelihood possibility. Although there there may be an inquiry, if there is not yet direct investigation yet of PSA's subsidiary, it is still in discovery and too early to determine liklihood; allowing the company to take the generic "ordinary course" liability disclosure in its notes. Auditors and SEC would sign off as long as there is not enough information to determine the extent of the liability. Would like to see the Q&A transcript for the Q if they have earnings calls. Is there any brokers that cover them? |
#38
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#39
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__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#40
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Quote:
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 06-06-2019 at 08:54 PM. |
#41
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Quote:
If anyone knows if there are any brokers covering, please let me know... |
#42
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Quote:
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#43
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Still the 9th Circuit. Same problems although the proposed class would probably be much larger. Just not seeing it on a consumer fraud claim.
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#44
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Agreed.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#45
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“Smart” money vs other
Seems as though the smart money has figured out what is going on at psa. Makes me wonder how many people will stop submissions to psa and how many will stop bidding on high end cards in auctions. Finally, Psa has to be super paranoid about fueling the fire by giving high grades to trimmed and doctored cards.
Anyone here glad that they lost to another bidder in a recent auction? Anyone planning to stop buying until more clarity achieved? |
#47
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I do have some nice (untrimmed) raw ones though, if you are interested though (or have a want list). |
#48
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Simplified is probably best for us non- lawyers... |
#49
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Up 70 cents today so far. It may crash but it isn't going to be linear absent some much bigger bombshell than a blog post.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#50
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Any time. People who don't know the law love to throw around the prospect of class actions but sometimes it isn't that simple.
__________________
My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
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