Experiment is Over - Cardtarget closing Partial Share Program

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Posted By: Jason

I suppose technically someone could "squat" with a few shares, but I don't think that ever happened.

It was a friendly community, and most welcomed someone buying out the shares and taking it private so to speak.

Regardless, there were T&C in place so that you couldn't be held hostage by someone if you somehow got ahold of 99% of a card. so say you had 99 shares (out of 100) at $10/share, and someone held the last share, they couldn't hijack you and ask for something stupid like $100 for it. There was a 25% rule to where you could immediately buy out a card for 25% over the market value of the last 20 sales average with no vote required. So in this case, you could take out that last guy for $12.50 and be done with it, and then the card is all yours.

The 25% rule is still in effect, and already a handful of cards have been purchased since the market closed. The remainder are of course up for bidding now, to be voted on, and perhaps eventually to ebay or an auction house.

regards,
Jason