New ticker symbol: 'AAMRQ' - not all that catchy!

Discussion in 'American Airlines | AAdvantage' started by kansaskeith, Jan 5, 2012.  |  Print Topic

  1. kansaskeith

    kansaskeith Gold Member

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    AMR, of course, is being "de-listed" by the N.Y.S.E. You can no longer trade its shares there. It now is traded in the "OTCQB marketplace, operated by OTC Markets Group," with the symbol AAMRQ. And no, I didn't buy any!
     
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  2. John777

    John777 Silver Member

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    When USAir buys AA, do we think AAMRQ holdings will become USAir stock?
     
  3. kansaskeith

    kansaskeith Gold Member

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    Fun to cogitate, but the general line of thought is that the existing classes of shareholders in a Chapter 11 reorg (except for "prepackaged" reorgs, which American's isn't) more often than not have their shares wiped out. If US Airways were to buy them, they would buy the assets, not the stock. At least that's how I (neither a CFP nor a bankruptcy lawyer) understand it.
     
  4. John777

    John777 Silver Member

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    I'm sorry...I was completely kidding. My (lack of) humor doesn't translate over the interwebs.
     
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  5. kansaskeith

    kansaskeith Gold Member

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    No problem. In fact your humor almost *did* translate, which is why I put "fun to cogitate" in my reply.

    I even was trying to fool around with some investment "pun" regarding "Dividend Miles," but couldn't come up with one.

    However, elsewhere in the AA forums there was actually some hopeful and sincere thinking that maybe people could make serious money by buying AA shares now. I and another poster (HaveMilesWillTravel, if I recall ) did our best to tell folks to be extremely careful based on how those things usually go. And so in this thread I decided to throw a little caution in here too in case somebody might read that about US Airways shares and innocently say "wow." . . . I just wouldn't want a sincere but optimistic investment beginner to have his arse handed to him on a platter, at least without a warning! :)
     
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  6. Lufthansa Flyer
    Original Member

    Lufthansa Flyer Gold Member

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    DO NOT BUY aamrq....its a token ticker symbol to liquidate existing positions so that tax lots can be established. Wait for the new shares to be listed if you're inclined to buy the new AA. the old shares are essentially worthless. The only way the shares would regain value is if they pulled their bankruptcy filing back as if it never happened, and thats certainly not going to be the case here.
     
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  7. Lufthansa Flyer
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    Lufthansa Flyer Gold Member

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    Only a fool would speculate on aamrq......it may move a few pennies a day, but you need to rotate 1000's of dollars to try to make any money. One day AMMRQ will stop trading and holders would be screwed. But like they say, a fool and his money are easily parted.
     
  8. NYCAdventurer

    NYCAdventurer Gold Member

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    I will pass on this loser. Appreciate all prior comments...
     
  9. mundosurfer
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    mundosurfer Gold Member

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    Tickers on the OTC Markets are almost all 5 letters, FINRA issues the ticker using the same convention as Nasdaq,
    the 5th character is used to classify the status or type of security.
    In the case of AMMRQ - The Q means the company is involved in Bankruptcy

    Side Note for anyone who cares:
    DLAKY is Lufthansa which trades on OTC, the Y at the end of the ticker means it is an ADR or a negotiable security that represents LH's stock so it can be traded on a US exchange.
     
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  10. Lufthansa Flyer
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    Lufthansa Flyer Gold Member

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    ADR= American Depository Receipt......
     
  11. meFIRST

    meFIRST Silver Member

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    Junk stock = worthless
     
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