ONE HUNDRED PERCENT SPREAD, LOL???????
HOLY COW, now we've seen it all on this POS. There's barely anyone left "making a market" in this collapsing pile, as in almost no MM's left on the daily level II.
They all just cleared off the Ask for all intents and purposes- letting the Ask go to exactly DOUBLE the Bid, LOL !! Tell me this isn't a freaking penny dilution train wreck disaster? Who can, or would, buy on a 100% mark-up from the Bid to the Ask? Who and why would anyone do that?
0.31 / 0.65 (16284 x 1571)
That's right off the OTC Market site itself. More than 2X the Bid if one want's to buy some shares. So you could buy say $3K worth right now, then if you wanted to sell them, you'd be getting cut in half, literally 35 seconds later, LOL !! FANTASTIC.
Tell me this doesn't smell B A D, BAD? Gets more bizzaro by the day?
Last week it made this major down-leg to the 30 cent area and hit 26 CENTS twice, ONE cent from the new all, all, all time LOW of 25 CENTS made in Dec 2015 (.00025 split corrected for the massive 1000 to 1 recent reverse split)- so it came within ONE CENT of the all time lows twice last week.
NOW, the Ask goes to freaking 65 CENTS, but the Bid doesn't budge a penny, LOL? REALLY? And the Bid had 26K shares on it this AM, now down to 16K, like one of the dilution hedge boys may be covering a big ole short position from last week's major collapse/down-leg they ran? That's the likely scenario IMO.
If the 30 cent range is the new "normal" now, based on the prior leg dilution from last week- then the next new lows should hit the 15 to 20 CENT range IMO (given that 25 CENTS is the present new low). That's the typical "ratchet" down, death spiral pattern this follows for the past several years, especially when Magna gets their mitts on each new pile of their steeply discounted dilution shares.
Wash, rinse, repeat- collapse.
Magna has 340K MINIMUM dilution shares coming to them- per the recently filed SEC filed S-1 form.
If that Ask stays at 65 CENTS w/ a 31 CENT bid- then this is just getting more comical by the hour/day/week IMO. Too funny- yeah, the Ask is 2X the freaking Bid, nothing wrong with that picture??????
MAKES NO SENSE TO ME, NONE?
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
