CarbonMeta Technologies Inc (COWI)

[1manband]

Why is this stock still being bought?

Because there are always people who don't know any better.

There are always people who are ignorant of the facts, either by chance or by choice. A lot of penny players ignore fundamentals. They look at charts, or just the stock price, and think the stock price can't possibly go lower is due for a bounce, so they buy without doing any DD whatsoever. Those are the same people that don't know what "split-adjusted" means when looking at historic prices and charts. Then there are people who believe what they read on the internet or hear from friends, family or coworkers and just buy, praying for a miracle.

I follow a lot of bankrupt stocks, and even though there is ample and easily available statements from these companies and the Federal Bankruptcy Courts that the common shares are being canceled, there is buying volume literally up to the minute the shares are cancelled and become worthless forever.