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Margin calls are harsh.
Still thinking it will find support that shorts will cover from.
Dip it and rip it?
News comes out 2 hours after Notice of Effectiveness.
This going to be fun.
I am a short term trader on stocks that don't have dividends. Not really looking at the fundamentals a whole lot. (Fundamental changes impact the price for sure, but looking for patterns and trading the technicals after that is where I like to look for opportunities.)
There was over 15 million shares short, and with stock below $16, I think a decent amount will cover even with the uncertainty.
If JP was honest than the current price is a steal.
I am thinking there might be dollar swings up and down at this time. Longer holding shorts will take profits and that's the trade at this point.
Buy $13s and $14s (hopefully not lower) and sell high $14s (maybe $16s). Got to use stops that you are comfortable with and maybe avoid the first 40 minutes of the day which is before most of the institutions do their thing.
Thinking another low $13 test might happen today and if margin calls get nasty may even see $12s.
The shorts will cover here once they rattle a few more.
There is a good story here.
But, there is a decent amount owed to past creditors.
In fact a certain creditor obtained a letter of garnishment of $500k before the company went silent.
Seems rather obvious that there is dilution to pay off old creditors (this is part of cleaning up the shell).
In addition the company did a 2,000:1 split in 2017 and another 2,000:1 split in 2018. Once the debt is extinguished and the shell cleaned up, they will do another split.
If $3 million is owed and cleaned up at $0.01 that's 300 million shares to burn through.
Creditors will want to make a little, so I expect volatility to continue as we grease it out.
We are here for a similar purpose, but we should be honest with each other as to why the stock is moving (so old creditors can be paid). This is a common reason why OTC stocks move. Recognize the why and then find a way to get paid.
Well if they are paying off the old debts with shares at $0.02 we are ok.
If it's with shares worth $0.002 less fine.
I imagine that old debts are being killed with the issuance of shares, after they will do an R/S.
I am pretty sure that's what the million share orders are from.
Regardless this is a pretty good trading vehicle.
Ok.
Explain $1.00 call and also $0.0001 call.
LOL.
If this is hitting bigger rooms, the MOMENTUM is to the upside.
This isn't a technical trade, fundamental news about the merger is spreading.
Hit $0.10 a couple months ago. Now with it being more or less confirmed, seems like it may jog again.
Screwed around with a penny stock today.
Easy money was on the $14 bounces.
Not when it first reversed but when the $14 held afterwards. After $0.80ish move it looks less appealing now for a short trade.
If I was in, I would just have a scaling stop.
Hope everyone found a couple of good trades and that tomorrow is also fruitful.
Why $1 soon?
At this point EXLA is where RBNW was at the beginning of September.
Probably looking for the same timeline here. Today's a little early here.
At least IMO.
Seems they got some big sellers to show up now.
11am margin calls are still a thing.
Wondering if the last half hour will see a nice bounce today.
That seems to be the usual trend on stocks that shorts hammer.
Of course, that's not what always happens, but a good chunk of the time it does.
Are you the new honda boost?
Catching bottoms and tops 102% of the time?
Quite the interesting play.
Hit $0.10 earlier in the year and now there appears to be confirmation of sorts.
(Well the market is catching on to the confirmation now.)
Quite the hit piece on the stock.
Looks like it got brought down to a level the MMs like though.
Using a sliding stop as the big boys fight each other.
Someone who knew the financing was coming through pre-sold.
What's dirty is the $5.25 offering price.
Will have to see if it can break over $5.80 or just fade today.
Again, sorry to anyone who bought over $15 yesterday.
F those dirty financiers.
Offering price $5.25
Sorry to tell you that the offering was nearly 75% lower than the last close.
How that is legal? Well, I just don't know.
With the IPO, they gave over $330 million in shares to employees.
If you back that out the quarter wasn't that bad.
Will have to see how the expanded marketing initiatives work for a couple of quarters before saying this is going bk.
Pre-sold offering coming up.
How anyone holds a stock that moves that much overnight is crazy given how often it happens recently.
Stocks used to run a few days first.
Well at least some truth was uncovered by this post.
Frontloading happens.
Damn. This news came out of nowhere as I was expecting a quiet period of about a month before we saw something.
The tweets from old owners suggest that they won't put up a fight and if they gave up shares .... well then we might have a very decent run.
Looking over the financials suggest that they had convertible notes of $400k.
Maybe a good chunk converted now?
Thanks for posting this, but it's not really bullish.
I doubt it's from the poster replied to as they seem bullish on Twitter.
Seems as though this was been agented which is kind of what I was worried about.
It's interesting that they didn't do a final push when there was momentum.
Ths still might get interesting... but just fading for now.
If this was a PnD they lost the momentum on it.
The easiest thing they could have done is really push it on October 3 or 4th.
You implied you knew who bought it.
If you have that information, let us know.
Otherwise, you are no better than the other side.
OK.
Who bought the domain? You seem to know. Let us know.
What is more than a reverse merger?
Is 2Pac coming back via this company or something?
Was hoping for a dip before acting, but if we got some inside information it must be legit, right?
CUE:
No additional shares have been issued since 2014 according to last T/A update this month.
Because a lot of people questioned the legitimacy here and on Twitter.
The amount of shares that are freely trading ....
A good indicator on a triple zero stock is the amount of shares traded to go up 100%
This is trading like the float is about 400-500 million.
Interested in seeing if we got a loading group or frontloaded group here.
The chart indicates someone is loading.
Why? Not sure. But shares are getting tighter and moves on less volume.
Is JC and crew loading? No idea, but looks like someone is.
Regardless of what is happening elsewhere, this stock is moving on less shares than what it took in the past.
Whether that is good or not is not completely known at this point but it does suggest that people are holding.
If this was on record high volume, I would be concerned, for now I am intrigued.
Cooled off a little.
Time to see if the $0.035 club or the $0.05 gets tapped again.
Maybe. But today's news was pure fluff.
Like I am trading it, but this is either prep for a much bigger move or dilution.
Given the recent moves in bio, I would not be suprised if they halted it for a midday offering.
Just be aware that it's happened a few times. And the offerings were at a 50% discount. Would not be surprised if those offerings were pre-sold on the day of either.
They probably would have mentioned that, or they should have.
Well, they did a convertible debt financing.
Kind of a vote of confidence, but can limit how much the stock gains.
Wow. A biotech company without revenues?
Come on, how is that a point on a bio?
The reason why you should wait is that there is probably some people who are stuck and will want to sell.
Wouldn't be surprised if it dipped to 1.70s even if it were to run over $2 later in the day.