Posted On: 11/19/2015 1:52:12 PM
Post# of 72443
A trader in Arizona named Joe Campbell created a GoFundMe account to help pay the $106,000 balance he owes eTrade as his account was short the stock.
In what could be an industry first, a trader is asking the general public via GoFundMe to help repay a balance of $106,445.56 he owes eTrade because his account was short a penny stock that just surged more than 900 percent.
Campbell's eTrade balance prior to his account blow up was around $37,000.
According to Campbell's GoFundMe, he felt that keeping a short position of KaloBios was a good strategy as he thought the stock would "fade" to $2.00 from the $2.07 it closed it. After all, the company did state earlier this month that it plans on winding down operations and any expectations of strategic alternatives were "highly unlikely."
In what could be an industry first, a trader is asking the general public via GoFundMe to help repay a balance of $106,445.56 he owes eTrade because his account was short a penny stock that just surged more than 900 percent.
Campbell's eTrade balance prior to his account blow up was around $37,000.
According to Campbell's GoFundMe, he felt that keeping a short position of KaloBios was a good strategy as he thought the stock would "fade" to $2.00 from the $2.07 it closed it. After all, the company did state earlier this month that it plans on winding down operations and any expectations of strategic alternatives were "highly unlikely."
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