FlyerTalk Forums - View Single Post - So why would anybody buy 3 million shares of AC today?
Old Aug 20, 2004 | 2:41 pm
  #19  
Braindrain
 
Join Date: Jun 2003
Location: YVR
Programs: AC E75, SPG Plat, HH peon-by-choice (ex Gold)
Posts: 8,090
Originally Posted by robsawatsky
This thread was about the current, essentially worthless AC shares and the probably reasons why anyone would buy (short sellers and the ignorant, most likely).
That's for sure. I had a colleague approach me about 2 months ago about a "great" buying opportunity. Said he already made 15% returns in a few weeks. Turns out he was told to buy AC shares. By who, I have no idea. I conveniently mentioned to him that AC had declared the shares to be worthless upon CCAA exit. Of course, he had no idea about this and was shocked to even hear the news. Fast forward a month. I asked him how his great acquisition was doing. He had bailed and managed to "break even". That's usually talk for "I lost my shirt."
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