Approximately 10 years ago I started reviewing Agora newsletters. One of their newsletters was reasonably well written and the author wrote a few books. One his books referred to the Coffee Can approach, i.e. buy some great stocks and put them away for the next few years. His formulae for acquiring stocks had a few requirements, one of which was that the executives had a sizable stake in the company. His newsletter highlighted all the reasons he thought that HLTH was a great stock. At the time it was at its high of around $6 or $7. It was listed on the US and Canadian exchanges. This recommendation seemed to occur around the same time the key executives decided to sell some of their shares. (After the insider sales at that time there was no more insider selling.) Then some lawsuits occurred because of some accounting issues. After a few months and the stock had fallen to $1 to $2, Agora recommended selling the stock because even though he predicted that it would make a come back in value he didn’t want to wait that long. He shortly thereafter closed his newsletter to become the personal investment manager for the owners of Agora. (I believe that was how he worded it however It has been awhile and I threw away all of the Agora newsletters.)
I didn’t sell the stock because if the backstory was reliable it would eventually come back and I had already lost the majority of my investment.
The stock continued to fall. It hovered at $.15 for a period of time and now has been delisted.
What happens now? There was some comments that it would trade over the counter. There was some comments that it is in bankruptcy and there would be nothing left. There was also some comments that the individuals managing this company had the same experience with other companies they had run. These were comments by other investors who had also lost their investment.
Anyway, is anyone familiar with HLTH and when will it either be removed from my account with the brokerage firm or what is the next step?
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