Question About Stocks Trading and Buying (Tecmo)?

[Tim]

I have done stock trading before, but now I got a question about Tecmo shares.

I was thinking about buying Tecmo (some company shares)
On E-trade it says: OTC Delayed Quote Last Trade as of 5:21 PM ET 7/24/08

Generally I see a date of either today or yesterday but last trade was over a month ago. Now when I read Share volume it says 0. Infact the price hasnt changed in months.

http://www.nasdaq.com/asp/summaryquote.asp?selected=TCMOF&symbol=TCMOF

What does that mean? Is this stock even buy able?

[raysor]

It's Over the Counter(OTC). Listed on the Pink Sheets. Which means basically it is a private company with a facility for buying and selling. It is not listed on any stock exchange. It has low liquidity. i.e. not many people buying or selling or both. Probably the trades that are done are between parties that know each other (manipulated). The price doesn't mean a thing. Lets say I put up a sale of 100 shares at $40 and you bought them that would show as the last trade and therefore the current price. Now if you wanted to sell those shares there may not be anyone willing to buy them, therefore the price is urrelevent. I would stay well clear until you know a bit more about the company. You need at least to see some audited figures or make a company visit.