The following message was updated on 9/9/2019 3:27:36 PM.
SDLP, gonne fight NYSE as per this REVISED !!!!!
[ since I've had quite some experience with OTC, even Pink Sheet, wish to tell you the following - The MM's don't get commission, their income is from the Spread, Bid Ask.
You will notice when you place an order, @ Bid or Ask, both increase the tick a few cents, up, down, resp.
They will Always give you a PARTIAL FILL, and that's when many make a mistake.
Never Ever change your Original order, the MM's see that as weak, and that you are willing to buy or seller, and will NOT fill you.
Best, is, after whatever you've got, or sold, cancel the remaining order,
FORGOT, THEY WILL NOT LET YOU DELETE THE REST OF THE ORDER, WHEN I THINK ABOUT IT.,and of course Never Give an order, all or nothing. You will not be HEARD.
Pink sheet is not really an Exchange, it's Cowboys; and DO NOT HAVE TO ADHERE TO NORMAL PRINCIPALS. They are entitled to do so, and Boy DO THEY SEE, any stop loss. They lower PPS momentarily and GRAB it.
The best way to get a fill, is to place your bid a few cents above Buy given, or vice versa less on sale. Then you might get a fill.
Also, of course Naked Shorting is to Kingdom come.
Be careful. Not saying do not buy, but, know what you are up against. ]
Here is what SDLP says in a PR:
The New York Stock Exchange gas decided to suspend trading in securities of Seadrill Partners and has started procedure to delist the company, an affiliate of drilling contractor Seadrill, from the exchange. The NYSE reached its decision due to Seadrill Partner’s low market capitalization.
“The Company expects its common units to trade in the over the counter (“OTC”) market beginning on September 6, 2019, under the ticker symbol “SDLPF”,” Seadrill Partners said Friday.
It said that the transition to the OTC market would not affect business operations and “the Company will continue to file periodic reports with the U.S. Securities and Exchange Commission (the “SEC”) under applicable federal securities laws.”
“The Company intends to appeal this delisting determination. During the appeal process, its common units are expected to continue to trade in the OTC market. Delisting procedures will be suspended pending the outcome of the appeal,” Seadrill Partners said.
The market capitalization rule states that companies must maintain a minimum value of $25 million over 30 consecutive days to remain listed. According to available info, as of September 4, Seadrill Partners’ market cap was $13.94 million.
Seadrill Partners owns a fleet of eleven offshore drilling rigs, consisting of drillships, semi-submersible rigs and tender rigs operating in benign and harsh environments.