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C'mon guys -- you gotta laugh. The absurdity of practices that suggest a stock like this is up 19,900% today.
As Christopher Walken would say,
"WOWEE WOW WOW!!!"
The number of shares that were visible at less than .0001 made no sense except as a typo.
Where can you buy and sell stock designated to 6 decimals?
Looks like there is an accounting technique used internal to Fidelity -- and I have seen them do this before -- wherein they substitute low bid values as the value assigned to a penny stock, rather than the actual trading price. This suits their advantage by transferring to themselves the actual equity value for overnight banking purposes, while alas depriving investors of that monetary and psychological value of that equity value. They usually say that it is some risk control measure they reserve unto themselves -- not in those words but that is the closest i could explain their mysterious explanations on past occasions. It is a very damaging practice to any stock, because 99% of shareholders freak-out and sell when they see the illusory price posted. They can create a self-fulfilling process, as a result of these accounting gimmicks.
Below .0001, does not seem to be a recognized unit of currency anywhere, so if a stock cannot be traded by anyone below that, one wonders if transactions below that are legal. I wasn't aware any brokerage's system dealt in numbers below 4 decimals.
What is that superior data source? Looks like a typo.
No, the iHub data shows 11:09 trade at .0001.
Reported WHERE exactly? Not on the iHub "Trades" data anywhere.
Please share a link to your superior data source.
There was no trade below .0001. The only thing i wonder if some off-exchange dumping somehow, by someone trying to zero-out wash sale restrictions. Wash sales are disallowed losses on tax returns, until the very last share in your account is sold, according to my understanding.
If someone made big profits on other stocks (as many did this year) they could for example be motivated to dump this at zero in order to offset profits in other areas -- to avoid being in a higher tax bracket, for example. That kind of situation.
But there were 4 or 5 trades at .0001 -- nothing visible below that, as far as I could see.
Welcome anyone else's fact-based theories....
No kidding.
No such trade occurred at that level -- at least not any publicly reported.
Weird.
Keep that thought, Martin!
How is that possible? Year-end dumping to take a tax loss?
No one can accuse him of acting so as to enrich himself with so few shares.
"Good on 'ya Mate!" -- as Crocodile Dundee would say.....
When that happen?
RE: The worse it looks, the more I buy. :)
GOLDLAND -- care to share why you feel so confident? Just curious. I mean, I hope you are right, but would love to know why you have a good feeling about this one...
It's where it was 2 Fridays ago, and recall it popped early the next week. People don't always like to buy right before a weekend and esp. before a major holiday. Which may be irrelevant in this case, but just saying.... Things are not worse than they were 2 weeks ago.
A Descending Wedge can sometimes break upward sharply.
Keep that thought!
Good.
GOLDLAND --- FYI only, i've no ability to private reply.
I really hope this is NOT your big event in life!
But keep the thought (it goes way up)! Be a tad consolation for what happen w/the other, would it not....
I don't know anything but from visual charting and technical analysis... But on that basis, looks like a powerful stimulus could send it ... Even if that result is irrational on fundamental grounds. Such things do seem to happen in the markets. How should anyone know why?!! Human behavior.
and what odds on THAT?
Anyone wanna place odds on 0.14 within 3 months?
Has that feel about it, doesn't it?
when a stock lets itself fall below 50 cents, much less 5 cents, much less half a penny, no one can be surprised if it becomes like a dead mouse the cat tosses about purely for amusement.
Rocketstocks, you certainly have a masterful grasp of this phenomenon. Thank you for explaining it. Begins to make sense of what has seemed rather unfathomable to me.
One would hope the financiers in this case would perceive a point at which it is in their best interest to let price bubble up a tad.
What do you mean, about shorters selling stock? Someone could short this stock at these levels??? Really? The only thing shorts could do here is buy to cover.
Which may explain the spike to 3 cents last week.
Hope they "Buy to Cover" Silver Falcon soon, too.
Amen.
Did they strike you as mentally competent?
This sort of "calculus to zero" stock discount is exactly why SFMI fell to 0.0001. Creates a constant motive to drive the price to zero in order to get stock for almost FREE.
Good points, but it still might be possible. But only if they really want to save it.
They could raise a million in 6 weeks.
Very interesting. I don't twitter or see momo boards. No idea what caused the spike to 3 cents, but one could see something building last Friday. After the 3+ cents, Mon-Tues, it Looked like the withdrawal of the atypical volume spike could explain gravity taking over. But the price spike might attract attention and that renewed attention could lead to an attempt to repeat 3 cents or more... Also it is just human nature when something has been so beaten down for so long, many will take the opportunity to get out at par if they can. I think it could repeat that, insensible or not...
Words of wisdom, but one cannot ignore the actual BEHAVIOR of the share price Friday, Monday, Tuesday, Wednesday.... even Thursday. It's just resting...
Well, it would be nice if there could be some real jobs there, for real people getting a fair wage.
I don't know about all the conflicts and politics, i just want something good to be made of it without trashing the so-tiny-it's-invisible equity left to shareholders. I just watch and observe price behavior.
Words of wisdom, but one cannot ignore the actual BEHAVIOR of the share price Friday, Monday, Tuesday, Wednesday.... even Thursday. It's just resting...
Who in their right mind would buy GHDC -- and yet, some magical acrobatics occurred Tuesday.
'It's a Mystery, wrapped in a Riddle, inside an Enigma.' (to paraphrase)
"There's many a slip between the cup and the lip."
Oh, yea, Twitter is what could explain this....
Good to remain so vigilant.
Sounds plausible. The volume was of interest yesterday. Inevitable it would at least fall back 50-70% when that atypical punctuated volume was withdrawn.