AMR Stock Price-The Alec Baldwin Effect

Discussion in 'American Airlines | AAdvantage' started by Falcon View, Dec 7, 2011.  |  Print Topic

  1. Falcon View
    Original Member

    Falcon View Silver Member

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    So I purchased some AMR stock some days ago at $ .37 a share. On Monday, the share price had moved up to $.40 a share. Alec Baldwin gets booted off a flight, and as of 10 minutes ago, the share price is at nearly $1.00. Coincidence? If only AA would show a few more insufferable Hollywood celebrities the door, I might get to retire after all!
     
  2. Titans26

    Titans26 Silver Member

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    Yes indeed. I did the same. I purchased 100 shares.

    Sent from my iPhone using milepoint
     
  3. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    Down to .88 right now. Did yo sell?
     
  4. Falcon View
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    Falcon View Silver Member

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    Sell? No way. LAX is a hub, and if my theory is correct, I'm sitting on a gold mine!
     
  5. Titans26

    Titans26 Silver Member

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    I purchased mine for novelty.

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  6. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    I hope you know what you're doing. :)
     
  7. JNB280

    JNB280 Silver Member

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    You're sitting on a pile of something, but it isn't gold.
     
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  8. DestinationDavid
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    DestinationDavid Milepoint Guide

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    Lol.
     
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  9. Falcon View
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    Falcon View Silver Member

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    Just sold my shares - $1.16 per.....
     
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  10. alohastephen

    alohastephen Gold Member

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    Just curious...what happens if AA is delisted?
    Does the stock become worthless?

    Or will it retain value if and when it comes out of chapter 11 and relisted?
     
  11. kziel

    kziel Silver Member

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    Worthless.

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  12. Titans26

    Titans26 Silver Member

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    I purchased 100 shares as a novelty. You are correct. The shares are worthless unless you find a sucker fool to buy them from you. There are sucker fools out there.
     
  13. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    I don't think delisting makes the stock worthless. It just doesn't trade on the NYSE anymore and ends up being an over the counter stock. http://www.otcbb.com/faqs/otcbb_faq.stm

    As I understand it, the bankruptcy court will likely cancel the existing stock as part of the reorganization and it becomes worthless paper (or bits in your broker's computer system).
     
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  14. davef139

    davef139 Gold Member

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    Delisting means nothing.

    There is a 99.9% chance the stock will get canceled at some point making it worthless. If you think buying up AMR is good now ask 2002 holders of United how that went in the end or holders of GM stock.

    The price jump was attributed to more possible assests then first figured. Which means shareholders could get something in the end.
     

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