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The real meat can be a lot of things, first being revenues starting to show up in the financials. Then additional large contracts, QB uplist, SEC reporting and so on. They do that and start showing continued significant growth and perhaps then reaffirm their plan with a timeline to $100M in revenues and it will be off to the races.
324k out of 337k shorted yesterday, recently anytime volume on the ask it has been heavily shorted. MM's seem to be digging deep to try and stall the next spike past 52 week highs and where the chart starts to get a little jumpy as far as resistance.
Also OTCN jumped to the top of the bid yesterday after the company tweet and coinciding with the 22kk slapped on the ask. OTCN is OTC markets, who typically is a low volume short MM like their twin OTCX, the fact that the first time showing in the box is on top of the bid seems to indicate they were actually loading shares and not covering a short position.
This is coiling nicely and consolidating after a near 200% move in the past few weeks, some say that the recent news has not attracted any attention yet we have gone from .0065 to .018. And yes is has been overall low volume and yet it still has made this move and is holding higher prices with little to no retail selling.
This is the best situation, overall it is best to continue a relative low volume, elongated move up and avoid high volume large spikes as they will quickly move down due to the locked float, it will honestly incentivize MM's to really mess with the action, the slower and more sustained the run the less incentive they have to really spike and crash the price.
Ideally, let's get this back towards .10-.12 with solid support levels all the way up before the company finally shows the real good to set up a massive volume run and spike that could send it very very high.
New 52 week high closing price, the .0195 high was intraday. I believe the last time the stock closed this high was May of 2022
Bullish reversal in progress, higher highs and higher lows. Will soon test the 52 week high at .0195 and could start moving in .005 increments based on the chart.
Overall moving up nicely on relative low volume. Best thing is to have to t move slowly back up over .04 and continue upward towards all time highs. The more we can avoid mass spikes of price and/or volume the better. As you saw it didn't take much volume to bring on ASCM to try and control the action to help MMs who were short shares
And yes I pay little to no attention to what is going on here as overtime there was little use or value in the discussions here.
Also it is with GTSM who also has their 400k bid still showing
They can only buy what is available without massively pushing the price, which is why when those large blocks came on the ask recently, they did not last long at all before being slapped away.
For the past month there has been a significant increase in accumulation and buying anything available. Even today there was still large bids lurking lower. Being that .0128 was a paint there was no reason to slap 600k that high and will wait it out to try and load as much as possible below .01
If that 600k was at .009 I believe it would have been taken out.
I don't think so either, but last week 500k slapped off the ask in a single block, earlier this week 250k slapped. Recently anytime anything has shown up on the ask at lower prices it has been bought up. that is addition to the numerous large bids that were lurking .005-.006
Chart wise, massive volume and this could get to .05-.06 in a hurry.
I am guessing MM's paint this down to close, but closing above .012 would be the first close above the 200sma since last March at .045ish.
This coincides with the 20sma cross over the 50sma which if we see the price maintain higher levels will lead to 20sma over the 100sma, 50 over the 100 and so on combined with the overall bottom reversal makes the chart primed to a large run.
Some positive, concrete news will of course greatly help. But this holds near 60% gain into close will certainly hit some scanners
What's odd is how it just jumped from .0095 all the way to .0128 which is showing how much lack of shares their are. A .01 break is usually a big thing but this went right past .01 to 0128
And the fact that GTSM is the one with the large block makes me wonder if that is real or they are trying to hold back the move, GTSM is the MM that kept showing 10k and was selling blocks of shares and earlier today was on the bid for almost 400k
News or no news, MVNT just needs a breakout day 30%-50%, even better if it coincides with the .01 break and hold to get more attention.
Low float bottom plays heating up and from the bottom reversal alone it will get attention because of how thin it trades, just needs that initial spark to hit the scanners.
But no questioning there has been a significant uptick in loading and I am guessing that are those low float players coming back in and loading the bottom before it starts to run.
500k slapped off the ask last week in a single order, another over 200k yesterday and now another 450k on the bid at .0075
Outside of even the accumulation line on the chart, even with the trading someone is loading heavy and more aggressive
Appreciate it, overall there hasn't been much to say. But there has been a change in the chart and L2 somewhat recently, larger bids, larger slaps, ask has thinned out, accumulation continues to hit new all time highs.
Trading is still weird, no dilution, next to no shorting even yesterday as 70k+ hit a 10k ask with no change to the ask and still there was zero short shares sold. So this continues to be an enigma as far as the trading goes, overall though it does seem to be setting up for a move. I have wondered if there are people quietly loading this as a low float runner type play.
All is well, in fact couldn't resist buying some more on the move down to 5s
Just don't bother with the board here anymore, not much value was coming from it. I talk with Don on Twitter so I'm sure if anything of value was hares I'd hear about it.
Overall seems like a group or someone has been loading recently and that the break of .01 will happen..... Soon
I mean this was at .0017 last week and tested and held the 200sma thus far, seems like normal retrace and consolidation to me.
So far nice retrace and test of the 200sma after massive move last week
Doing better than crypto guys that's for sure. Let's see if the crypto crash will bring some money back into the OTC. Seeing lot of people talking of a OTC rebound
That is the bigger issue at this point, going to need volume for all you to dump out before the real run starts. Churn out the old, being in the new before this pops
Lol, live and we'll. Been busy with variety of things. Not much to talk about here so spending my time on other things. Still got my shares. Still believe we will all cash in at some point even if that means another run to .12
there is a difference between cheerleading and just being realistic and understanding of the OTC. Delays happen, things don't transpire as planned but there was and is money to be made which is all that matters.
At the end of the day the point is to make money right? Do you really care about management or the company?
Poor finances nor "untrustworthiness" has never been a problem on the pink sheets.
And the company as far as untrustworthiness is petty as far as the OTC goes, you have issues with missed deadlines and the fact Velocity has not yet been merged in, that is nothing when the OTC is known for lying to dilute then to split and wipe out shareholders all together over and over again. Then the same person who does that on one company, goes to another company and does it all over again.
Again, company gave shareholders the opportunity to make a lot of money over and over again and now have a chance to do it again. What is there to really complain about? Making money? If one did not make money that is not managements fault
I know right, a pink sheet company missing deadlines, unheard of, all the pinks sheets I know follow through with everything and always meet deadlines.
Company has given everyone multiple opportunities to make a lot of money and another chance to make a lot of money, not sure what there is to complain about in the end.
They have an actual business, employees, large customers, that alone makes them different.
How many companies on the pink sheets are well-management? How many even have an actual business behind it? You want well management, actual companies you should not be playing around with pink sheets.
The entire stock market is predicated on "if"
It said soon after they were current, they just got current today
What? No, I am saying why do you care if they release a PR or not if you won't believe anything contained in it? So you should care less whether they do or don't issue one
What difference does it make, you have already stated you won't believe anything in the release anyway. And damn, they have been current for an hour, they never release news in the morning
Who knows, just goes to show that the new rules have had no change on the professionalism of OTCmarkets
Weird that I see companies getting current with unaudited financials and no attorney letter posted. Have see a few at this point.
Yup, the people that have been here will not be the ones driving any potential run and people coming in will care less about what has happened or hasn't happened
This is true, will hopefully mean news is coming and sometimes it can bring in some more attention since people look at the daily tier change listing and people might be more comfortable buying when pink current then limited.
Seems the OTC is still arbitrary as ever with who/when it updates tiers
It can be useful in predicting future price action, it is good to have a bullish setup forming with a catalyst coming such as a PR.
The weekly Bollinger bands pinching as tight as they are is the most bullish sign as each time it happened previous the stock has had a nice run
Overall chart primed for a breakout after prolonged consolidation in the current channel. Weekly chart bollies are pinching harder than they have in near 3 years, each time the weekly bollies have pinched the stock has reversed strongly. Accumulation also bottomed out number of weeks back and has been rising steadily.
Monthly price keeps riding 100sma support with 200sma as resistance.
Accumulation remains strong on the daily as well. Of course the company needs to follow through and deliver but the setup here keeps getting more and more primed for a massive run with how locked this is and how the chart is setting up.
Except that is not a legal reason for restriction shares that were already held for the required 2 year waiting period. The company has no say in preventing shares from dumping into the market once the original holding period requirements are met.
We not wanting you to do something would not hold up to the SEC or in court
You are basically making the case that management of OTC companies could forever prevent convertible debt or preferred shares from selling till when they are ready, that is not legal nor the reality of how this works
But the point is, teh company has to have a valid legal reason to put the restriction on it the first place, the preferred shares already went through the required 2 year holding period, other preferred B shares were issued without restriction. The company cannot randomly pick and choose what is restricted and what is not, they have to follow the SEC laws/rules or risk legal issues
They cannot arbitrarily pick and choose what shares to issue as restricted or unrestricted in regards to the Preferred B shares, 500k were already issued as unrestricted, there has to be a legal reason to issue as restricted and "i just want them to be" is not a legal reason
They attorney letter was filed yesterday and the company tweeted that is was filed and that news is to follow once current. Not sure what else they would say
The reasoning would still be just issued with financial reporting and other legal holdups. The hope is that Jack was brought in for that specific reason as overall his expertise is not needed for the current MVNT financials, so perhaps he was needed to get Velocity converted to GAAP to merge it in
I am more under the belief that the shares are restricted due to a specific material event rather than any true need to be restricted. There is no legal reason why the shares need to be restricted.
For instance the 500k shares converted last December were issued as unrestricted, there is no difference between those 500k and the recent 9.5M shares as they were all preferred B shares.
So to me it means there are insider trading considerations with pending material events that caused them to restrict those shares until that news is released.