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I doubt there will be a joint venture, more like expanded business with Pemex as they fully utilize MVNT IP to upgrade all of their infrastructure. You could be talking very large contracts.
It could also pave the way for contracts with other larger oil and gas companies. Like all business, hardest part is initial penetration of the market, once you get that breakthrough it starts to snowball and Pemex might be the spark that takes it from $10M to $25M then before you know it they are at $50M plus and growing.
In a way they are helping keeping the price action stable with slow and steady move up allowing for support to build and chart to consolidate.
Perhaps MMs even know that this has a lot of room to run and are allowing it to do so in a more sustained way instead of just making it spike and crash.
Of course large volume increases will force the action but this lower volume steady bullish trend is perfect and can go on for quite a while
Pemex -166th on FORTUNE 500 list of companies with the highest total revenue globally in 2021.
-1st on FORTUNE 500 list of companies with the highest total revenue in 2021 in Mexico.
-12th in production and 20th in crude oil and condensate
-11th in refining capacity in the world reserves in the world
- Among the five largest hydrocarbon and oil product logistics companies worldwide
-9th oil and oil products trading company in the world
76% shorted yesterday so not sure how much retail is actually selling, however we will want people to take profits along the way regardless of what the potential is, creates more stable movement and a chart with multiple support/consolidation periods as it continues to move up. Churn through profit takers and create new longer term holders at higher prices.
Below is language from Pemex's recent business plan, sounds a lot like what MVNT is doing with its patented pumps and remote monitoring and maintenance platform.
Innovation in technology of artificial production systems is vital to keep mature
field producing without compromising the safety of workers or the environment.
Moreover, digitalization helps reduce the risks of operational stoppages by
improving business indicators
As in the case of mature fields operation, development of new fields requires
cost-efficient technological solutions in wells and facilities construction
throughout all the stages, from field development to operation activities.
Currently the market offers useful, predictive technologies that deliver
information allowing timely decisions, including real-time operational
monitoring to diagnose problems during drilling, completion, and productive life
of wells.
If they file anything I am certain it will be an extension and do not get too excited about the report as it is for year end 6/30, seems most of the news that would drive revenues significantly is post 6/30
Never good for people to get too hyped by a financials release
Nothing, just MM's doing their thing, stair stepping chart back testing SMA support levels. Higher highs and higher lows, let it keep doing this as it will allow for a longer sustained run. Things don't go up in a straight line, because if they do they often come right back down in a straight line
Was an open gap regardless and stood out on the chart, always better to have them closed then remain open. No there are no open gaps and retraced to the 20sma, lets get the next leg going
Buy the dip, was a matter of time before they closed the open gap on the chart and tested the 20sma
No need for too much attention too soon. Moving nicely, just need to have steady movement up over a long period of time.
If they can continue to expand, grow and become a fully reporting entity then the attention from legit micro cap investors will start flooding in, those with much larger pockets willing to go in much deeper in a legit value play. That is what will drive the real action.
Ideally this can continue up toward all time highs through the end of the year early next year and be able to sustain the price due to the slow movement up and resistance building along the way. The .10 level can then be the foundation to jump from when the real fun starts.
Where were your bids at? Were they there before the flash crash? and there was a single large buy above .02 that was a double print resulting n over 600k in total volume.
Not sure why anyone would have that on this stock. however with how short MM's have been, I could see them doing a raid like that if they saw enough of them open.
Nearly all of the trades were double prints, so hard to say they were sells or buys
Hard to say, but I lean towards something being known that is coming. But could be them as you say doing the mid month trading on steroids
But odd to see the flash crash be followed by very urgent buying all the way to mid .02's, low .01's on the bid that 700k walks all the way up and buys everything it can all the way back to green.
2nd highest volume day today in past year plus, the highest volume day of the past year was the day before this started its bullish run, so let's see that repeat and tomorrow be the start of another run up
They just filled an order below the bid, MM;s trying to cover fast
490k on bid at .02 like 2 minutes after .008 gets hit, something going on, MM's covered quick and now larger bids than we have seen in weeks at .02
MM;'s covering quick, every trade on the was down was a double print at 6 decimals. Reporting period today or tomorrow and right after that the large bids start to flow in.
I mean look at the whole gamestop situation, everyone, government, SEC, brokers went out of their way to make sure that the big guys were protected at the expense of the little guy, what did any of that have to do with "making a market", has everything to do with making the large companies money and limiting losses.
First and foremost MM's are there to make money, the idea of "creating" a market is the justification for why they can get away with what they do
MM's are the ones that manipulate the action when those type of orders come through, they do not fill higher retail bids and let the market order go lower than the bid to fill their order and cover a short position. This is why instantly after the fill there were larger bids at .016 and .012, it is not like those bids were put up in a second after the .0104 fill, they were there prior and were skipped over so a MM could cover a short position as low as possible. And the algo had the MM cover right at the 200sma with a subsequent slap at .0206 right after the fill to show a quick test and bounce off of the key SMA
Basically, even if a retail order, MM's can signal to let others know it is coming and not to fill trades higher. For instance, when that .003 order hit do you really believe there were no other orders higher that would have filled the order? Same thing here there were other bids skipped over to get the lower fill, so MM's put out the signal to have them not fill orders at a higher price.
Some might say it could have been a signal
Look liked it skipped over orders, bids were being hidden and somehow fills 300k right at the 200sma and bounces right back.
Screams MM's covering a block to me, MM's have been shorting this for a while and have not been able to cover. Perhaps was a retail order and MM's let the order skip over retail fills to fill them low.
86% shorted yesterday, still a majority of the sell volume is MMs shorting and not any actual shares being sold by retail.
At some point they will need to let it move up significantly to try and get profit taking
Another nice tweet, company has become very consistent with updates for a while now, bodes well for the near term and future. Seems the company is really ready to follow through on their initial goals.
Won't take much volume to get through .02 but there has been no need to slap the ask but also there has been no moving down the ask either. Price has been holding up very well with little to no overall selling.
I would say over the next few months, which is not really slow, but by OTC standards it is slower.
Allow it to pop over a couple weeks, even 50%-100% then consolidate for a few weeks. Rinse repeat.
Then we want to see the annual report showing that growth, then further PR's and hopefully an upgrade to QB and fully reporting financials. That will set the stage for financials into next year that are audited and hopefully start to show significant revenue increases.
So perfect storm would be the steady price rise for rest of 2023 creating strong support all the way up, have them become fully reporting and uplist to QB setting the stage for the real run in early 2024 where it could have that ALP$ type run everyone is hoping for.
We are far better seeing the lower volume action and price increase then high volume spikes. At least for the time being.
So far it is creating support on the way up, consolidating and continuing its bullish trend. Far too often those massive spikes ruin the bullish trend and allow MMs to take full control.
Right now MMs are on their backs and will have no choice but to play along with retail which will allow for an elongated bullish trend.
The more sustained and elongated the run the more stable it will be and the more strong support levels formed. At that point you can look for a massive run say after it moved slowly to .10
MMs covering, increase bids forcing them to cover some shares when they can
I don't think it has much to do with confidence or goodwill or even trust. MVNT is just not a typical sexy penny stock. Most penny stocks run on hype and typically hype in hyped up sectors.
There is nothing sexy about oil and gas nor a company supporting the industry. Does that mean it is not a good investment? Of course not but the OTC is more about gambling then investing in real companies.
MVNT will slowly get attention from people here and there and have already attracted enough to lock up a significant portion of the float. But the real action will come as they become fully reporting and uplist and strat to attract actual value investors and not OTC penny gamblers.
MVNT is not a hype play, it is a value play based on a legit business and a legit industry
The biggest thing they could do at this point, outside of continuing what they are doing is to get audited and uplist to QB. I would prefer they not PR about it and just do it when ready. That will be the needed step to add credibility to what they are going and start to attract the micro cap types who will not touch an alternative reporting pink sheet .
To clarify on this, since 7/18 75% of total volume has been shorted
Total Vol. - 1.823M
Short Vol. - 1.4M
Retail - 466k
More we now see the more COVID seems to have really delayed what they planned on doing.
Outside of the immediate shutdown and associated staffing issues, energy stopped producing, raw materials were impossible to get or insanely expensive and now seeing the vast international presence they have there was zero chance of shipping and deploying industrial equipment overseas during COVID period when household goods were having backlogged shipments.
It now seems everything has caught up with itself and MVNT is now ready to do what they said they would do years ago. And their international exposure is extremely positive as it insulates them from US energy politics and with Russia issues there will be plenty of expansion in oil production in test of the world especially if the US continues to produce less for "environmental" reasons.
I think if anything, we can start to see how/why they stated $100M in revenues, might have taken longer to pull it all off but with products and services like this and getting a contract with one of the largest Oil companies, you could see how $10M could parlay to $30M, to $50M and so on.
3 more deals like the one they have and you are saying $40M in contracts.
Proof is always in the pudding right? I am sure they got the full on demo and saw it all in action. But always different when it is fully implemented and being used in practice. A lot of that has to do with how the implementation goes as well as the finished product.
And the tech means reoccurring revenues with high margins. Not just single contract, one time rev's for equipment.
And with the tech comes data. This Pemex deal I feel is the starting point for them and fingers crossed it goes well and if it does not doubt this spreads to many other large companies. Once something works others tend to follow.
Not sure, but I am guessing this is all to facilitate to the remote monitoring and maintenance via MVNT's software platform.
Past 5-6 sessions 90% of sell volume has been shorted by MM's
Interesting tweet out about the setup of the technology, they keep getting contracts from large Oil/Gas companies for this type of service, sky is the limit for MVNT
You go from a pure manufacturing company to a combo manufacturing/equipment provider with a tech/software overlay. Large margins and a ton of data and as we all know Data = $$$
Of course not and the company needs to follow through, however one can notice the company has changed their "tune" or overall tactics. The PR was more specific then they have ever been and that comes after they have consistently been providing tweet updates. So one can see a definite change in how the company is communicating and I believe that has to be for a reason.
Nearly all volume from Friday was shorted, overall over 70% of total volume past week shorted.
20 sma set to cross 50sma on the weekly
Golden cross of the 100sma crossing the 200sma on the daily.
Price up near 200% this month and trend set to continue as there has been next to no retail shares being sold, MM's will have no choice but to move the price up to try and get retail shares to sell.
Not sure why anyone would be anything but happy about the bullish reversal in progress and the company coming out with substantial, concrete news relating to revenues.