Track Record

Past results do not predict future outcomes. Status ("acquired," "bankrupt," "deregistered," "still listed") is determined directly from each company's own subsequent SEC filings (8-K Item 2.01, Item 1.03, and Form 15 deregistration filings) -- not from third-party stock price data, which can be unreliable for delisted companies. "Avg/Median Gain if Acquired" and "Avg Days to Close" use each company's last available traded price and date before delisting as an approximation of the actual deal price and closing date -- market prices and timing typically converge close to real deal terms as a merger nears completion, but this is an approximation, not exact contractual terms. Filings with a computed price change outside a realistic range (most likely caused by ticker reuse, where a delisted ticker symbol gets recycled for a later, unrelated company) are excluded from all averages and counted separately, shown under each signal type where this occurred. A ⚠ warning marks signal types where one or more acquisitions had thin trading volume (under 25,000 avg daily shares) near exit -- the price/liquidity for those specific cases is less reliable, and thin liquidity is itself a real risk for anyone trying to trade a similar situation. "Avg Change if Active" only includes filings at least 90 days old, to exclude situations too recent to have had time to resolve. None of these figures are investment advice.