Today i want to share one news read from internet... someone claims that he made a million ringgit just invested in one US stock LEA from JUL till Dec. According to him, the price he bought was US0.50 which he put about RM 10 thousand. Today, the price is about US62 and made him millionaire just in 3 months.

http://www.google.com/finance/historical?q=NYSE:LEA

OK, if checked the google web as above, the price for the stock was 0.50 in JUL, but it was suspended or cancell by NYSE, before it relisted in NOV:
http://www.nyse.com/press/1246529826913.html

I think he is not telling the truth as the co. must go thru some kind of restructure exercise (the co file for bankruptcy) and reduce the number of stock (something similar to AIG 20 to 1) for it's share price to go up so high. Not sure if anyone having knowledge about this stock and what he claimed is true or not?

does that matter even if he made a billion or someone out there made a trillion? The question is, will you get a share out of it? I wouldnt waste my time seeking the validity of statement that some1 made a few million and bla bla bla...

Spend more time to enhance ur knowledge and build a better portfolio..

maybe can prevent him from conning newbie who may think he is expert?

Yup agree with you we share the same perspective However there are a lots of naive ppl there who believe in all sorts of get rick quick schemes.....

Be realistic lar

Let them say whatever crap they like la.... same like a friend of my can talk bunch of crap which totally doesn't make sense.

Put it this way. You will not get rich by just following peoples idea....You can get rich only if you have a great ideas.

Mmm I found this thread interesting not because he made millions but because how he made millions when the company seem to went bankrupt for 1-2 month and re-opened multiple folds..

Is it because he still keep the share even the company share is being suspended for 1-2 months? And doesn't that conversion of 1-62 current price? Any sifu can explain about this.. Like Lityan I heard last time people holding it at 10 cent become rich.. =.=!! Cause if I'm that person and see Lityan price like that 1 year ago I already give up ==!!

Just a brief, I don't know the real case of this topic, but for some company that under distress or problem time, it is quite common to see compnay have significant capital reduction aka xx or x number of share become 1 (like Lityan) or xx number convert to new company share (can be using the same name, but it is a totally new company after restructure, no longer the old company) or when share price too low prompt company take reverse stock split like AIG case.

For Lityan case, if one bought Lityan at 10 cents prior before being suspended, your existing Lityan cost is not 10 cents, as previous you have 8000 shares with 10 cents, now become 1000 shares only.

yeah man, many of them are like ' u buy this la sure earn ... u wait regret if dont listen to me ' or after a counter shoot then he ' i wanted to buy this la when it was still low price.. '

That is the purpose we want to learn other people's experience (hence need to know if what they say is true or not) on how to spot this kind of stock in US stock market. This is a very rare case, seem we never experience this in Malaysia stock market (I mean a few thousand change to million in few months) Not sure if we can conclude US market is more easy to make money

Also, for this stock LEA, how can it turn from USD0.50 (before suspend) to USD60 (after relist), i believe it must have some kind of share consolidate. (hope someone can explain this if he know the details) Not sure if the company have went thru restructure exercise to merge the share, like 60 to 1, or 70 to 1 ?

well, i m politically incorrect & do enjoy constructive criticism, that should be back up with facts or something similar
thus if anyone feel offended with my comments, i offer no apologies in comparison to what sifu market does to ur bank ac for tuition fees
if it looks like dung, smells like dung, taste like dung, its got to be... (pls fill in the blanks)

google is your kawan, PLEASE do r&d, b4 posting these 'cry for help' & 'get rich quick scheme'
maybe, i should post tis skim cepat kaya too & follow lyn forumer silat also
wei! looking at the 'before restructuring shareholder' comments, on the after bankruptcy scheme, it confirms to be a dung

Judge Approves Lear Corporation's Plan To Exit Chapter 11 Bankruptcy-DJ
Thursday, 5 Nov 2009 11:12am EST
Dow Jones reported that a judge cleared the way for Lear Corporation bondholders. Under the plan approved by Judge Allan Gropper of the U.S. Bankruptcy Court in Manhattan, senior lenders led by JPMorgan Chase & Co. and bondholders will forgive about $3.6 billion in debt in exchange for most of the equity in the Company. Existing shareholders will be wiped out. - - - - - (repeated)

http://www.reuters.com/finance/stocks/keyD...ts?symbol=LEA.F

http://messages.finance.yahoo.com/Stocks_%...d=1&mid=1&frt=2

http://www.thehotpennystocks.com/Stock-Cha...spx?stock=LEARQ

http://www.law360.com/company_articles/2388

http://resources.bnet.com/topic/lear+corp..html