My thoughts,,,
I remain somewhat skeptical with this stock having watched their funding for quite some time. Presently I'm trying to rule out the possibility that this is a total pump & dump or at least measure the probability one way or the other. I'm sitting on some decent profits & have to make choices with my eyes wide open.
This volume has been crazy. Particularly for this stock which has a large following of people who know NEOM's history. The people I speak of are "not" quick to put down huge sums of money without giving it serious thought.
I did some math & the average cost per share during all of yesterday's trading was about .038 & may well have been higher but I chose to be conservative. The first couple of hours it was under .038, the entire rest of the day it was over that. That means that at least $11 million bucks changed hands on a stock that was .0075 at the beginning of the week. That's eleven million dollars on Friday alone. Now factor in the fact that we traded half a billion shares since Wednesday which means it's probably another six million bucks.
A P&D targets retail investors & it's hard for me to imagine that the average joe parked 17 million dollars in a sub-penny stock since Wednesday. It looks like someone with a lot of cash & an agenda is taking a position.
Also I ask myself "where's the hype?" I personally can't remember a penny stock P&D without the attendant slew of fluff PRs. For all intents & purposes this thing has been devoid of any hype.
Although I can't completely rule it out this doesn't display all the hallmarks of your traditional pump & dump. If it is, it's one of the most successful jobs I've seen.
By the way. I agree with people that state our float may be bigger as well but I will not begin to guess on that. I do not think it's as big as some say. I do not think it's 7 or 8 hundred million but I don't know that.
Bare in mind that any stock that climbs from .008 to .056 in a matter of 4 days just about has to experience a correction. I was surprised that it didn't open lower Thursday & shocked that it didn't drop coming out of the gate Friday. It almost has to dip Monday morning & at best trade sideways.
If this stock closes so much as 10% higher on Monday with above average volume then I will be relatively sure that we will see a SEC filing outlining a positive declaration of a "Significant Material Event" in the near term.
The one thing that I am clear on with this stock is the element of risk vs. reward. Reward here out weighs the consideable risk to the tune of 80/20 for me.
That's just a few thoughts I have. Ultimately we all have a decision to make Monday. I hope that most of us hold & that somebody keeps buying.
