What Is Elio Stock Trading For Today?

[Samalross]

Something must be happening with the NASDAQ listing because Elio moved to OTCQB. This is probably a preliminary step to the NASDAQ listing come Spring 2018.

This was because they did not release Q3. They were downgraded.
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[Samalross]

Yeah, they were traded previously on OTCQX: https://www.prnewswire.com/news-releases/otc-markets-group-welcomes-elio-motors-to-otcqx-300222864.html

And it does look like a downgrade according to these definitions: https://www.investopedia.com/articles/investing/070513/otcbb-and-otc-markets-group.asp

With the lack of news and current financial status of being on life support, it would make more sense that they were just downgraded due to lack of finances instead of this being prep for NASDAQ listing. Of course I am no expert, but I cannot see how it would be better for NASDAQ listing to be traded on the OTCQB vs OTCQX.

If there is an upside to being listed on the OTCQB, can someone share it? I would think it would actually be better to be listed on the OTCQX since it means you have some sort of backing, vs. OTCQB where "there are no financial requirements for listing".

It looks like they stopped trying for Nasdaq. By not releasing Q3 they don't seem to care.

 

[RSchneider]

I looked on the OTC site and they will be listing as to why companies got downgraded.
https://www.otcmarkets.com/stock/OT...-and-Caveat-Emptor-Designations?id=174133&b=y

 

[Samalross]

I looked on the OTC site and they will be listing as to why companies got downgraded.
https://www.otcmarkets.com/stock/OT...-and-Caveat-Emptor-Designations?id=174133&b=y

Good research. Never knew about this list. Guess it will be listed on January 2

 

[RSchneider]

The OTC site is pretty interesting. I never knew they had a skull and crossbones symbol but I guess it get's the point across.
http://www.otcmarkets.com/learn/caveat-emptor

 

[BaldGuy]

The OTC site is pretty interesting. I never knew they had a skull and crossbones symbol but I guess it get's the point across.
http://www.otcmarkets.com/learn/caveat-emptor

Will be interesting to see if Elio every gets downgraded to Caveat Emptor. Would have to get 2 more downgrades unless they are able to skip one level.

 

[LillyMayPatterson #1685 & #5648]

http://www.otcmarkets.com/financialReportViewer?symbol=ELIO&id=184174

 

[Made in USA]

From the http://www.otcmarkets.com/stock/ELIO/quote

I think its interesting that MAXM is wanting to buy 10,000 shares for .0001 each which totals a dollar.
Then MAXM wants to sell 1 share for $800.

Is that a "long shot" strategy or what?

Real-Time Level 2 Quote Montage
There are no quotes for ELIO
MPID Bid Price Size Date/Time
CANT 3.51 100 08:30
CSTI 3.50 2,500 09:30
NITE 3.50 1,000 10:42
CDEL 3.35 3,449 09:30
STXG 3.00 100 12/06
AEXG 2.00 100 12/08
MAXM 0.0001 10,000 07:35
NTFN U 0 12/13
ETRF U 0 09:23
MPID Ask Price Size Date/Time
NITE 3.55 100 12/11
CANT 3.70 100 08:30
CSTI 3.80 100 08:30
CDEL 4.00 225 09:30
STXG 4.30 100 11/28
AEXG 8.00 100 12/08
MAXM 800.00 1 07:35
NTFN U 0 >year
ETRF U 0 09:23

 

[Donnyboy]

If there is an upside to being listed on the OTCQB, can someone share it? I would think it would actually be better to be listed on the OTCQX since it means you have some sort of backing, vs. OTCQB where "there are no financial requirements for listing".

I can think of no upside to being downgraded to the OTCQB. It's not as drastic as a de-listing from NASDAQ, but it still looks bad.

 

[Samalross]

From the http://www.otcmarkets.com/stock/ELIO/quote

I think its interesting that MAXM is wanting to buy 10,000 shares for .0001 each which totals a dollar.
Then MAXM wants to sell 1 share for $800.

Is that a "long shot" strategy or what?

Real-Time Level 2 Quote Montage
There are no quotes for ELIO
MPID Bid Price Size Date/Time
CANT 3.51 100 08:30
CSTI 3.50 2,500 09:30
NITE 3.50 1,000 10:42
CDEL 3.35 3,449 09:30
STXG 3.00 100 12/06
AEXG 2.00 100 12/08
MAXM 0.0001 10,000 07:35
NTFN U 0 12/13
ETRF U 0 09:23
MPID Ask Price Size Date/Time
NITE 3.55 100 12/11
CANT 3.70 100 08:30
CSTI 3.80 100 08:30
CDEL 4.00 225 09:30
STXG 4.30 100 11/28
AEXG 8.00 100 12/08
MAXM 800.00 1 07:35
NTFN U 0 >year
ETRF U 0 09:23

The person does it every day in the hope that there is a computer error, like the time someone bought Elio stock for $75 due to computer had no maximum price set for the buy order.