Stock is already way up on this news.
Overstock.com, tZERO & Siebert Financial (SIEB) sign letter of intent to enter into a partnership to offer deeply discounted online trading in Q1 (60.90) Under terms of the agreement, any investor in America who accesses the Muriel Siebert & Co. Inc. portal at Overstock would be able to conduct online trading of US equities for $2.99 per trade through the platform. In addition, Overstock plans to introduce a new tier to its Club O loyalty and membership rewards program to offer that elite membership level the opportunity for online trading at an even deeper discount of $1.99 per trade.
Why is this important?
SIEB is a massive piece of crap. They can barely keep the lights on and I once played this stock, masterfully, back in 1999. They were caught up in the dot com craze and the stock went on a lunatic run, making Muriel Siebert the first female billionaire on the NYSE. I’m a little hazy on the details; but it was a big deal.
Now they’re aligning with a very high profile blockchain play, which will be the biggest ICO to date — launching on 12/18/17.
I’m thinking their relationship with tZero/OSTK can drive some new business. I’m thinking, the float is so damned small this stock can double again and no one would think twice about it. I’m thinking YOLO.
I’m in at $11.12.
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You like SIEB you gotta look at $LFIN. Fintech AI ipo from Wednesday just bought a blockchain company today. This is going to $30 in a hurry
what ticker?
you’re trading like you’re still sub-40 … must be that vegan diet
LFIN
I’m in at $11.75
Giddy up
badduck
Are you an Exodus member?
How can fintech work if they technically don’t have any money. Here’s an idea. How do banks make money? They lend it out. Lend out some bitcoins to me. I promise I’ll pay them back in dollar denominated currency in 4 years from now. It goes up I win, it goes down I win. Losing proposition. Fintech cannot possibly work. Banks don’t make shit on transaction fees (which is what I assume cryptocurrency is all about besides these smart contracts), and a wildly volatile “currency” only means one thing – I “hodl” and trade it back for more than I get or it goes down and I just pay it back in dollars. Lose Lose. Hahaha. Total fraud.