I"ll repost this as your answer. Gives you not only my thoughts, but the actual words of the reason AND the company response.
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I feel better after reading the OTC Markets skull and crossbones. They say
"due to:
"Public Interest Concern - OTC Markets Group has determined that there is a public interest concern regarding the security. There is unusual or unexplained trading activity in your security."
and I AGREE with that. I wanted to buy in a week ago at $.35, and missed it. then, it ran and ran and ran, daily, to $.80. In a WEEK. ANd it's not like 35 was the low either. It already ran to get there.
So OTC said that it was unusual for a company to run that much, and that constituted "unusual or unexplained trading activity in your security"
But the better part comes from the company reply.
"The Company recognizes that the demand for its shares has been over exuberant, which brought about the needed warning to investors. We believe this exuberance has been caused due to the markets recognizing that BITCF is emerging as the foremost public company in the Bitcoin space compounded by the upward momentum in the cryptocurrency's growing popularity."
Nice. they know they are going up a lot, and think it is because ... well, because they are worth it. HA. Good answer. And more.
"According to a call to OTC Markets, filing an opinion letter from SEC counsel will not immediately remove the warning icon as it will remain for at least 30 days as a matter of policy"
So the skull will be there for 30 days. After that, I think we go bak up again, as the concerns ARE addressed already, and the warning should have no reason to still be there in 30 days.
MOre from the company on that.
"the company has retained competent SEC counsel and expects to file the required opinion letter this week and meet all of other OTC Markets' disclosure and compliance requirements."
Boom. Company responding, warning not allowed to be lifted yet, and then it will be, and this is TERRIBLE for now, but overall should become a blip.
I'm not much of a touter on stocks normally, and even when I buy I say I buy because I hope they are going up, but not much more. This though, I have an opinion on the decrease. that is that I bought today (for the first time, since I missed it) and I think this is a buying opportunity. Just my opinion. But the skull scared people, and since the company is dealing with it, it should disappear and the reasons for it to go up in the first place are possibly too much of a run, but a good reality for the future as the company DOES grow in a field that is growing tremendously.
So I'm in. And staying in. Although the next few days or hours still might be rough. Especially with people not allowed to buy (And should buy in 30 days when they are allowed to, again a reason for a RISE in 30 days from wherever we are at during that time)
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