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They were able squash the price because a lot of people owned shared bought under $2
It was fairly easy for them to shake the tree and people were happy to get 4-5x.
Until AMTD makes it clear whether they will sell any HKD at these elevated prices, we will be in a precarious position.
I don't know, if AMTD sells some HKD then this definitely ramps.
I am unsure if they are just going to keep quiet and not sell.
This uncertainty sure is providing some good opportunities to trade.
Yesterday was interesting as I am fairly certain that the market makers were caught without shares. That's why they thumbed it down from $14 premarket.
You know the drill.
Some people don't talk until they grab a few.
I think a lot of people sat on the bid at 4s and didn't get filled.
If this clears 5s and 6s are not that deep, people may just buy at 6.
If this can go to 7s or 8s, it gets interesting.
Barcode action doesn't get people excited.
Apparently so.
I thought trading it from $2.10 to $3.50-$4.00 was good.
Didn't really think a test applicator was that unique.
It's not a vaccine, it's a test ...
No news and just moving with other Chinese stocks.
It's already up 400% for no reason, I say let it go.
Very strange action.
Unsure if someone was shorting or someone just bailing all day.
Very hard to hold overnight when a stock moves this much.
Even though they just did a financing you never know if they will push another after a big move.
Stock has pretty much died already.
Guess it's good if no one sells at 4s, but no one is buying 5s at this time.
Did their games get you?
Fairly certain that someone has been trying to build up a position.
Trying to scare out some of those who have shares with a cost of less than a $1.00
Yes, setting up for a run higher .... after they got some to sell out.
Nah, someone tried to shake the tree.
Nice pop and consolidation back to $2
You have to remember that shorts rarely lose and market makers need to accumulate a few shares before they let stocks run.
This is why holding through an event is a poor idea.
Better to trade after.
Like the consolidation to $2 provided a good entry.
With the shares previously trading as low as they were, the shorts can find shares.
Shorts and market makers rarely if ever lose, now that they covered and grabbed some, they let it run.
This mornings thumb down was a result of them not being ready.
This should run once they accumulate a few free ones.
Price was long for an extended time, might shake it down a few more times.
Accumulate a few on the downswing and sell a few into strength.
Build a position, and then when or if they let it go you have a few and made some money on the volatility.
Buying a few at $2 (or something) and selling some at $2.30 might be the way to go.
Quite the short attack once this hit $14
Or perhaps someone shaking the tree hoping to get some retail to bail.
Don't forget AMTD owns 88% of HKD.
Maybe I was wrong and $20 is on the low side.
Not changing my tune.
$65 is quite out there though.
$10 seems possible and maybe $20, would love to be wrong and see $65, it's just a little high at this point.
Looks like retail and maybe a few with bigger pockets connected AMTD and HKD yesterday afternoon.
That wave trading in the after hours seems pretty telling that some are accumulating.
$65 seems pretty lofty, retail speculation and other forces can likely send it higher than $2, but not sure about $65
Of course, would love to be wrong.
Yeah, so if AMTD can sell even just a fraction of their shares, this can rocket pretty high.
I think others in the market are starting to realize this and that's why it is moving as it is after hours.
It's a bit of an unusual situation which is probably why it was stuck in a range.
Give a small chance to AMTD that they can cash out some shares and you can see how the company shares skyrocket.
I want to see if this can hit $10 .... but will probably take my cost off before that.
AMTD owns 88% of the shares of HKD.
Well, finally going to let it run.
Lots of things seem questionable.
If I got in at $8s, I would be happy with 50% in a day, probably would have sold half on the break of 10s with a stop that rolled up on the rest.
Been burned badly trying to hold longer than a day, so focused on shorter timeframe trades.
Maybe swinging works for you, just not so much for me recently.
Sad that I abandoned this as it opened above $5s
$8s were a great entry based on chart.
Yes, some decent hits, probably those sitting on 6s may have had to raise their bids a little.
Still quiet, so people may still be trying to grab a few.
Seems like a lot of share available at 7s and 8s.
Is it great enough to send it to the $0.00s though?
I don't short low priced stocks as the risk to reward isn't there.
I would look for an entry once news is released though.
Rarely worth holding in anticipation these days. I still don't short though.
Not sure why it hasn't really moved.
I guess the company is locked out of selling any shares.
This company owns 90% of the other and yet has a market cap of 1% of it.
Even just selling 10-20% of their position would mean maintaining control and getting a few dollars.
You would expect this to get some decent move, even just to $5, but for now it seems stuck.
Be careful on these stocks below $1 moving up on no news.
Could be someone generating volume and interest to sell out a position.
Keep it on watch for news but be weary that someone with a substantial position may just be creating a way for them to sell.
They just did an IPO and put news out last week but couldn't bother with financials from March.
Not putting out financials in a timely matter is embarrassing for big board listed companies.
Yeah, I want to trade it as well, but companies should be punished for pulling crap like that.
Also, I can't invest in speculative Bio, just trade off of events.
The roads are too long and weary. Better to buy on moves after news with stops.
Holding through events isn't worth the risks.
Rarely will a stock instantly double on good news, but getting crushed going down 30-50% is common.
Better to buy on a pop after some consolidation if it decides to go higher.
Your experience may be different, but mine says it's not worth it. Only had to be on the wrong side holding a couple of time to see that.
Thanks for that.
Well the 1.94 million is from relatives of the CEO and COO.
Kind of scummy to put out news and then claim they can't file Financials without undue hardship.
I want to flip it, but seems like it may be a blatant scam.
They aren't even willing to put out financials.
This is OTC type stuff ... and they just listed 2 weeks ago.
Regulators should be ashamed letting a shell get Nasdaq listed.
Again, I am looking to flip it if buying comes up. But this is pretty ugly for a big board company.
I did some digging and it's quite impressive this got Nasdaq listed.
Congratulations to the children of the CEO and COO as they were the ones who sold stock (not the company).
Of course, I am looking for an entry on the small chance there is a real company.
But this definitely seems like an OTC stock that somehow made it to Nasdaq.
Also of note is that the company did not raise capital on the IPO, it looks like children of the CEO and COO sold shares.
Still might see a decent bounce here.
Just a number of puzzling things that don't seem very good.
We shall see if it was a short lived pump. Hopefully they didn't push through an IPO to cash out $10 Million.
I mean, it's impressive if that's all they did on a stock that's Nasdaq listed.
Good day All.
This came across while doing a scan over the weekend.
Seemed interesting, but the company put a release saying they would be late in releasing financials.
The company also claimed that part of the issue is the ongoing IPO process.
That seems reasonable that there may be some delay.
Until you see the delay is for financials for the period ending March 31, 2022.
I don't know, seems like something they should have planned to have done nearly 4 months later.
Not saying there is no opportunity here, just saying a few things look suspect.
$1.00 to $0.01 already? Why not $1,000 price target within the next hour?
Never change your optimism my friend
Volume just died.
Let's see if it can hold 6s
The CEO is also short?
Alright, which one of you guys is willing to go to Whitman's place to make sure he is awake to do the conference call?
Decent sized bid that is unfortunately being sold into