fear God and keep His commandments
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had the mm's opened at say, .065/.07, we would have had an entirely different day. mm's created the perception of a bank run panic and the sheep followed. the mms themselves wanted hundreds of millions of cheap shares. perhaps a billion or more.
but people would have been still buying no matter what at this stage. too many positives here.
that news wasn't really bad.
but the company should advocate for its shareholders. That is Job 1 for a public company, take care of its shareholders. this was highly unconventional, semi-legal theft.
The company should advocate, but it didnt.
makes me wonder.
absolutely. mm's will do whatever they want to do to make themselves maximum money. what happened Tuesday morning (april 6) was outright theft, as most EEENF investors would have yawned at that news and said, oh well let's wait a little longer. But the MM took it upon himself to DRIVE the market in dramatic fashion, before the market had a chance to speak.
my question is, WHY DIDNT or hasn't the COMPANY raised serious grief over what happened? Publicly spoken to their shareholders that they were NOT ok with what happened and it will be investigated.
brokers & MM's are private money-making entities. They love to quote the "SEC" rules and all, but they are only there to MAKE money, by hook or by crook. While they "serve" the market.
Never expect a broker to tell you the inside story of the market, how they make billions. you will only hear the retail version of how noble they are and they are there to help you make money. a load or crap.
i would bet that the buys out-weighed the sells on April 6. probably far out-weighed.
and some people still think that mm's are these harmless little go-between mindless buyer/sellers who work off of supply & demand.
People have stated basically, in defending the 80% Gap-down, that there were probably tons of sells in before open.
WHY ? Why would anyone sell off that news? it was not even bad, just not amazing.
the mm's must know something. something big is coming perhaps. and they want in on it.
i wonder if the MM's did what they did because it IS an Australian-based stock and SEC wont touch it? But it was DISGUSTING that it opened at 80% DOWN right out of the gate. Illegal I would say.
RB, I agree that the 80% gap-down was criminal. To such a degree as to arouse suspicion, for a number of reasons. And not a word from corporate EEENF on behalf of shareholders getting equity value WIPED out in 1 fell swoop by MM's? The company should have complained very loudly.
something IS going on.
i have never seen a gap-down like that ever. No reverse, no bk, no real bad news, and even some good news.
What the heck?
just GIVE us SOME GOOD news, EEENG. Let an experience PR person who actually WANTS to increase shareholder value SIGN OFF on the update.
are we supposed to be getting an update from eeenf or is that just rumor?
So how low do people think they may take this here? people thought we had a bottom yesterday around .0206 and we didnt obviously.
what do people think?
what do you mean, pb?
it sure was beyond idiotic for David Wall to release that update on April 5. the overreaction was so extreme though, so as to seem almost orchestrated to achieve this wipeout of wealth.
this is sick how this has gone. i have never seen a gap-down anything close to that in all my years. overkill to the max.
why hasnt this company addressed its shareholders after an 80% drop in share price? why? It would be entirely normal for them to address this disaster.
hit the ask? billions and billions of shares have been traded and people are waiting now. most people are tapped out. the April 5th update was asinine. we could be pushing .20 right now.
do we have a timeframe on when lab results will be published publically?
my concern is how long will this sustain here without news updates? this cannot go on indefinitely.
as long as those big holders like JP Morgan & HSBC aren't selling. 88Energy should update the holders list. It was last current as of November, 2020. Be very curious what that is today.
https://88energy.com/capital-structure/
what the mm's did yesterday, after monday's close at near 8.5 cents, dropping the ask (on Tues A.M.) to .018 or whatever it was, HAS ANYONE EVER SEEN THAT in their OTC/PINK experience before? ever? (BESIDES for a Reverse split announcement)?
I am still stupified that they were able to do that. There simply have to be some kind of parameters that they must operate within. I mean it took billions of shares to climb to .09, and they just dumped it before even 1 share was traded yesterday.
but has anyone seen that before, can you provide any anecdotal evidence along these lines?
thanks.
(edit)
88Energy should never have posted that stupid, misunderstood update, they should have waited for lab results and put it all in 1 update. the positive results (most likely) would have carried the day.
had we not gotten that unnecessary update, we would probably be like .15/.16 or who knows where. but here we are,
struggling to hold .02
oh so why did they just do a 12 million dollar private placement money-raiser?
Dont think they need to "dump" so stop lying.
https://themarketherald.com.au/88-energy-asx88e-md-resigns-after-12m-placement-2021-02-12/
mm's love to steal. disappointing how this is being traded. how convenient they wiped out so much equity.
so, be quiet. stop spreading un-truths.
https://themarketherald.com.au/88-energy-asx88e-md-resigns-after-12m-placement-2021-02-12/
"88 Energy has also announced it has successfully completed a bookbuild to raise up to $12 million via a placement." NOT DUMPING.
And yesterday's news was NOT dumping at all, the person PAID for those 500,000 shares. And the COMPANY RECENTLY RaiSED 12 Million private placement. This company is FULL LEGIT.
Nobody cares what you are waiting for. Keep it to yourself, it is your own private financial business.
this generation of people's constant need for attention and pats on the back for their participation trophies makes me sick.
3 billion shares traded since yesterday. MM's run the show, establish the perceptions, selling to one another, etc. Keeping it down (compare buys vs sells since yesterday).
is there a buyout? with the O/S here, the BUYER may want to buy no higher than a certain amount, so the calls went out, and wa-la.
Yesterday's drop was absolutely uncalled for and stupid, with just an equipment problem. No r/s, no CEO indicted, no bankruptcy, etc. Still sitting on a MONSTER ASSET MOUNTAIN.
my thoughts.
mm's under orders to keep it here in this range. for the moment.
so very obvious.
no there isn't. big surge coming. HUGE SURGE.
there were millions and millions in buys flowing in and the market makers WERE NOT MOVING IT UP. they kept taking it down, keeping it flat. i think they determined no matter what to keep it under .02 - no matter what.
did any institutional investors dump today? i bet not.
market makers know the game, the naked short - ESPECIALLY IF THEY GET WIND of a buyout/merger - and the powers that be KNOW they have to convert 1:1 shares to complete the paperwork, they will move a mountain and screw 10,ooo retail shareholders to square their books.
that was NOT bad news on the 5th. it wasnt wonderful but it was no reverse split or CEO indicted or bankruptcy or some other disaster scenario. something else was going on here. it was beyond stupid and frankly wrong, borderline illegal manipulation.
look, i get it. but the buys were coming in in HUGE chunks and this thing WAS NOT MOVING UP. that aint right.
has anyone looked at/reported the buys/sells trade data from April 6? what was the breakdown? this should have NEVER dropped like that at open. MM's took it to the EXTREME to make a point. to piss all over the last 30 days of trading. the PR update was poorly written and SHOULD Have been held back until lab results, coupling them together.
the extraordinary (never seen that dramatically in OTC) gap down open price
by the mm's was highly highly suspect. if there is a buyout imminent, and it may be, the drop in price was strategic in my opinion. a ridiculous overreaction.
HAS ANYONE LOOKED AT BUY/SELL DATE FROM APRIL 6? BUYS/SELLS??
I think it would be surprising.
very valuable, rott. does this at all look like what EEENF is experiencing to you?
market makers are beholden to banks/brokers. that's all you need to know. they are there to make money, to facilitate and cover for the naked shorting that goes on continually.
this update was not bad. no reason for this.
no. the market makers set the market. If the market makers had simply opened at .075/.08 - which they could do, this stock would have dropped maybe to .05/.06 or so. it is all about perception. People would have thought cognitively to wait it out or whatever. BUT NOT PANIC SELL & DUMP & RACE FOR THE EXITS.
The market makers FACILITATE the panic by doing this. They did not need to drop it freaking 80% before the bell. it's criminal. 80%? How do they know what is going to happen.
Damn it we know the mm's serve the brokers/banks, of which many are MASSIVELY NAKED SHORTED. They do this for them.
The mm's have tremendous power to set the tone. this company did not declare BK or an R/S. They simply had a delay on ONE well b/c of equipment. Their value did not change.
i cannot believe the illegality of manipulation here. This is NOT 'making a market' but setting the market. i bet not many have even sold, there is no point to it. the company did not announce a reverse split or bankruptcy or shuttering of operations - nothing close. this is sheer lunacy. i have never seen such crap. after billions of shares traded and millions of dollars flowed into this stock, they just willy-nilly decide this PR update is 'not good enough' to sustain 8 cents?
what the heck?
COMPANY NEEDS TO SPEAK LOUD NOW.
Company needs to speak. they need to STATE WHAT THEY HAVE, the MASSIVE VALUE OF IT.
Sheeeeesh..They have the DRILLING RIGHTS to a likely HUGE OIL FIND. That is all you need. Huge amount of eyes on this. Yesterday's update was actually good news, (outside of some broken equipment); They have the rights. The data, the evidence.
when you have the DRILLING RIGHTS and the DISCOVERY - like EEENF - has, you have the goods. They just dont have the scope to fully maximize what they are sitting on. IT is time they HANDED IT OFF TO TO A BIG OIL company, so I think we see a possible BUYOUT here imminent. They would NEVER have paid people in shares recently KNOWING they had nothing.
those employees or contractors who just the OTHER Day took payment in EEENF stock shares instead of cash - the brass that did that - would NEVER have done that unless full confidence in what they knew they had, or that they KNEW there had been talk
of a buyout by bigger OIL companie(s). They would be SUED into oblivion if they screwed them. they DID NOT. THIS IS going to resurge.
88Energy have the drilling rights but not the scope/scale to fully maximize this find, they will be bought out. this will be worth much much more. do not yield to such stupid panic.
Would not surprise to see BUYOUT news in next week or 2. This company is 100000% PRIMED for TAKEOVER. They have the drilling rights to THIS location and that is what matters.
Corruption by market makers.. Other countries would shut this manipulation down. Do the MM's get to decide if a PR is good or bad now? how are the MM's allowed to do this? HOW CAN they KILL a market so easily?
are there no laws and regulatins after BILLIONS AND BILLIONS Of shares traded in this? and we get a weak PR update and they DROP IT and STEAL MILLIONS from people?
MM's are TOTALLY stealing money here. Damn them. If BANKS were taking this kind of hit, they would SHUT the MARKET down to STOP this kind of THEFT for a few hours or day.
DRILLING RIGHTS IS HUGE VALUE IN ITSELF. they HAVE LOCATION DRILLING rights where the oil is. they have evidence of oil. their value is still HUGE they just havent pulled it out of the ground yet! CAN YOU NOT SEE THIS? DO NOT SELL into the panic, it is idiotic.