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Very possible Dadof3.
how could you be in the red, when you bought in at .0019 - .0025?
the bid went from .0052 (4 sells, total 600k) to 1M sold at .0036 on the following trades
Any opinions? Could someone have placed a market order sell, and a MM robed them? Or just a MM takedown to acquire cheap shares?
What kind of unethical MM movement was that? The opening pressure was on the Buy side and flipped immediately to that. Who would sell over 1M at 36?
Well said nbketz4. Right now, GMGI is past the Annual Report period, but before the actual report. No news either. A quiet time. Most other investors, even if they are watching, are sitting on their hands, waiting to react. Some, even sell, tired of waiting. Those in a proactive mode, that have already done their DD, are buying more, accumulating. Some of those here have been accumulating since .0020 levels, even lower.
A company needs strong fundamentals for continued growth, not just spikes that retrace even before a day ends. GMGI is rare, not just my opinion. The stats and facts support it.
Indeed.
Every time I grab another handful, or others of you that continue to accumulate during the dips are taking shares off the current market. The circulated float becomes smaller, and the price rises in kind. Supply and demand.
It simply depends on volume, buyers, and holding of shares. There are many stocks with larger floats, trading for multi pennies as we speak.
...and why will those new buyers pay a penny or three cents for your shares? Because they already have their sights on that nickel or dime. Then, wishing they had found this gem when it was sub penny. JMO
There will always be "flippers", they add liquidity to the market as well. Not a bad thing. However, the shares are just short term circulated. When people start holding on to their shares and the available shares dry up for flipping, traders are forced to pay a higher price to cause sellers to give up their shares.
As more buyers realize the company is worth more fundamentally, the price will continue to rise. I have heard comments from this board, "I am not selling till at least a penny" or " holding mine till .03 at least".
Buyers will be forced to raise prices to pry those shares from your tight grip :)
The "technical" picture is just a view of what is happening. You can gain insight from your charts, and improve your view. Short term indicators even drive a market. Self fulfilling. BUT, fundamentals remain the under lining force. IMO.
GMGI has very good fundamentals. Most pennies don't even have that in their vocabulary.
When I say "undiscovered" I don't mean to imply no one knows of it (our volume is mostly flippers). For example, just to put GMGI into perspective, there are over a thousand stocks on the OTC trading between .03 and .15 cents.
About ten of those have about a million or more volume. Do you know what all of those stocks have in common?
NONE of them are making any profit. Zero. Matter of fact, only a few are even making any sales at all. Plus, they sure don't have any large cash on hand.
GMGI has made revenue sales every quarter for over a year, is currently making profit as well. AND has more than a million in cash on hand. There are many stocks with floats as large and more trading for multi pennies as well. This stock has a lot of room to run, IMO.
I think GMGI is undiscovered. The current core investors consider anything under 6s as super cheap. It will not be long before new players will be wishing for a dip down near a penny to get in -and consider it a steal. A little patience, the view is changing.
Still a lot of short term sellers in the mix keeping it down. Need that to dry up and volume to pick up for a significant move. Trace back 6s breaking past that .0065. 7s will come fast IMO
I see out 3M+ Bid has returned :)
not over, look at that bid amount
seems a reasonably safe place to accumulate
Added some 47s and 48s at that little dance. I came late to this GMGI party, I haven't any of those .0019s that Richme has stolen :)
Yes, and Buy/Sell volume is about even, and the Bid side is backing up.
Normal activity. This is typically a time frame of consolidation or even selling, after earnings date, but before actual report comes out. Remember, this is a fiscal as well, so an annual report. Nothing has changed fundamentally.
Yes, unrest in Hong Kong, and China still trying a trade play. But folks are going to continue to gamble. Earnings should be good, new deals on the table.
And I am adding, getting fills at .0047, cheap shares. JMO, but a buy opportunity.
I don't have my L2 up, who's (MM) sitting on the Ask?
anyone see that 3M pop up on the Ask?
gm GMGI :)
Richme, did you bite the bullet and get back in GMGI? btw, how's your vision coming?
...and the other 5% by non shareholders:)
Looks like someone grabbed 400K at .0052
I know most on this GMGI board are savvy investors, and I don't mean to bore you with this. However, someone that is not as experienced could be intimidated by the current action.
The typical Market Maker (mm) is both a Buyer and Seller. My point is WABR is "hired" to be a Seller. That's what their firm does. When I used the term "aggressive", I meant he was ONLY a seller. This typically will introduce more selling than usual, during a short period. When more sell than buy, the price will dip. If you are like me, and are a Buyer, you want the cheapest price, and take advantage of the situation to add shares. A weak or unaware hand might sell into it out of "fear". If you have been watching that ASK it has walked down from .0058 to .0052
Citadel Securities (CDEL), Canaccord Genuity (CSTI) and Cantor Fitzgerald (CANT) are friendly MM's for the most part and both Buyers and Sellers .
WABR is "hired" to be a Seller only and typically will NOT be in the lineup day to day. If you see them show up on the ASK, on your L2. You'll know that more selling than buying may occur that day. So far today we have twice the selling volume as buyers.
https://ih.advfn.com/stock-market/USOTC/golden-matrix-group-inc-GMGI/trades
Well said Red.
I mentioned it yesterday. The Firm WABR represents is just an agent (an execution service mm), managing trading volumes and finding liquidity, discretely for small batches of equities, as to not affect the market. It's hard to be more specific, typically anyone that has a batch of shares they want to sell. That want the best price, and do not want to disturb the market, selling them.
If you have done your DD and are a GMGI Buyer, you're aware of the companies performance and expectations. Nothing has changed, the sky is not falling and don't allow anyone to steal your shares or scare with BS tactics.
This is a solid board, with smart people that have done their homework. If you understand why a stock performs differently, out of the blue, you can make better decisions. Based on facts, not hype or bull. Now personally, the research indicates GMGI is a solid opportunity, so I will continue to be a Buyer and accumulate at the lower prices, as presented.
"Someone" has some shares they want to sell, in an orderly fashion, getting the best price. So, systematically, instead of all at once.
WABR is an aggressive seller, however the intent is to do it without upsetting the market. He's going to move some shares at the best price he can get, one way or another. It will depend how the buyers react is all I am saying.
I'm a Buyer, not selling. Looking to add during this sale :)
Agreed, and WABR is an aggressive seller. So it will depend on how quickly the buyers fill the void he creates. When the volume picks up. I am only speculating, but should cause a dip.
Then perhaps a repeat of yesterday, another sale?
I don't have my L2 loaded, is mm WABR here today, sitting on our ask again?
GM, I was just going to say that spread is awful wide.
LittleBambi, I believe both are correct, it's just the terminology. GMGI revenues are from "licensed operators" fees which are casinos, many international, based on registered users "through" mobile devices to the online casinos. There are also users that are on notebooks and PCs, but smart phones are now surpassing them. Although most of the online gambling is illegal in China, it is still very popular in the country. Players use internationally licensed websites for betting options and "online" casino games through their devices.
GMGI, gaming technology company owns ONLINE GAMING IP and builds configurable and scalable white-label social gaming platforms for its international customers, located primarily in the Asia Pacific region. The company's platform can be accessed through both PC and MOBILE applications.
Based on the information available, it pointed that much of the gambling is done via mobile. For example, Lucky Panda 888 is designed for the iPhone. The GM-X platform works on the PC and Mobile systems. Mobile gaming (smartphone and tablet), meanwhile, remains the largest segment in 2019 in the region.
I don't think it will have any impact on the GMGI stock, todays action was primarily a dumping MM, WABR.
The majority of the GMGI "gambling" is done on Phones and Tablets and through the vast APAC region international Casinos.
The GMGI business is also through Macau, which is an autonomous region, officially the Macau Special Administrative Region. It is not on mainline China, it's an island just south. Hong Kong is across the bay on a peninsula and borders China on the north.
It's very unfortunate for the innocent people involved. But I don't think it will stop people from the "region" from gambling on their mobile devices. IMO
"Macau has been spared from the political turmoil of Hong Kong. There does not seem to be such an ideological chasm in Macau. Like Hong Kong, the territory has been granted autonomy by Beijing under the same “one country, two systems” formula since its return to Chinese sovereignty on December 20, 1999. Today its people show scant signs of antipathy towards Beijing. People of Macau recognise that geography is destiny, even if some or many in Hong Kong refuse to."
Nooo, not selling my stuff for a penny.
I suspect MM WABR is primarily responsible, and may have shook a few weak hands with it too. Yes, the new accumulators should fill most of the void.
Gotta love a sale:)