Usually is due to corporate changes and they are required to Re-register their shares under a new symbol, could be a reverse split, but that is also not the case at times, the price that you see of $26 on Scottrade is a totally different stock is about Santander Finance Preferred shares which trade as that price.
But from the action and attention this stock has shown and received in the last 2 days, a major change is definitely taking place, it seems that someone knows more about it from the outside and is taking shares off the plate very fast and not looking back, over 76 Mil traded on Friday at an average .0021 that is over $150 K worth of shares, with a high of 34 closing at 23 but still up +15% gain.
Their website is also down, so the change theory holds up, different company ? I do not know, different sector ?, ....same answer, different owners ?, ...they are all good questions, but as of now the only thing we know for sure is that someone wants in before the official announcement.
The share structure is very tight with a very small Float, even though i do not go by what OTCMarkets says having that the data is old, but even if the Float is maxed out at 450 Mil shares, for a pink stock is still very small, soon if this trend continues the Float will be locked, a forward split usually happens when the insiders acquire the whole or most of the Float, which is not out of the question either.
Etrade and TDAmeritrade do not know anything, so these are insiders with big money, common sense dictates that Santo Mining may go to higher levels and the change might be very beneficial for shareholders, otherwise the stock with be flat or even drop rapidly, as of now we can only guess and speculate.
I think is worth a small gamble, i witnessed this trading pattern many times and 9 out of 10 turns out good. JMHO
C4urself the 1st Ammendment.
Don't assume that i don't know, and i wont assume, that you have no idea.
