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

You are better off shorting penny stocks.

http://timothysykes.com

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/Rec...

Answer 3

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 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