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Yup had it’s usual morning dip, consolidation then up tick.
Number 10 on the breakout boards.
That’s another thought, usually short market makers usually rely heavily on a company to dilute to allow them to cover as cheaply as possible.
As everyone here knows, this company is doing the complete opposite! They’re buying free trading shares on the open market, from retail traders and returning them to Treasury and canceling them completely!
That also says to me that the two acquisitions that the company expects to complete this year will be non dilutive. Otherwise why would they buy shares from retail investors and cancel them completely!
Agree 100% with everything you say.
Here’s what I remember reading in another post a few years ago here on IHub about what happens when there’s an unexpected catalyst which causes a huge unexpected demand for shares.
It went something like this.
In general it’s my view that these days, retail has access to public information way before companies are ready to move publicly.
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When names of new company officers are posted on say OTC Markets, people see it realise it’s significance and start to buy the stock.
That creates buying pressure from several people who read the post on OTC Markets or Filing Re etc.
That then sets off scanners which pick up on the sudden volume spike on Scanz or broker based volume scanners etc.
More and more buying pressure comes in and eventually the market makers run out of shares that they hold.
Next what happens is that when a broker comes to the market maker to buy more shares from them, the market maker knows that if they don’t fill the order that the next time the broker will take their business elsewhere.
So what the market makers do is enter shares onto the system that they don’t actually have, (these are known as “air shares” and create a significant uncovered NSS position held by the market maker which needs to be covered) expecting there to be a short term spike in the price and the share price to fall significantly in the days to come returning the price to its usual market equilibrium.
(It is said that if the angle of ascent on the price line of a stock is steeper than 45 degrees that the price must come back down as such a steep price increase is unsustainable. Also major indicators will probably start overheating. Especially the RSI.)
So when that selling pressure doesn’t materialise like in the case of GDVM short market makers will start to use a whole arsenal of other tactics. The obvious one is to pay people to post negatively to generate selling pressure.
The others we will see are stop loss hunting where the market makers use any sells as an excuse to mark the stock down or when they see stop losses on the system or trailing stop losses they will manipulate the price as much as they possibly can to also collect shares and cover their shorts.
Unfortunately, none of this is working as nobody wants to sell!
Also, the float here is approximately one quarter the size of JP EX!
Lots more room to run.
Excellent day here folks. Moving with more and more ease every time there’s any buying pressure.
Threes and higher coming tomorrow.
I can’t remember seeing any CEO going to such lengths to clean up a shell ready for a reverse merger before this one.
Still a lot of good sized buys going through.
Spread has widened. Looks like the market makers might try some old fashioned stop loss hunting before the end of the day.
Set your stop losses very high and watch ASCM have to mark up the price to try and generate some sells! Lol
They said in a press release released on the JP EX board in January that they had plans to complete two acquisitions this year. Sounds like they already knew which two companies they wanted to buy and indeed considering Melvin’s other four Oracle Cyber Security certifications, I’m sure that Oracle Gold Certification really can’t be far off.
So here’s the thing folks. The CEO is mainly concentrating on expansion in the USA. The company is offering a suite of cyber security products to corporate clients initially.
However, the CEO has been at the helm of this company for more than twenty years.
Anyone have any market capitalisation numbers for Veemost earlier this year?
Considering that the share structure is decreasing due to significant but backs by the CEO, I’d presume that the valuation of the company has increased significantly over this year.
You don’t commission a PCAOB audit unless you have substantial plans to at least up list to the OTCQB minimum.
Company has 2 acquisitions planned for this year. As we’re in mid October I’d presume that one has been completed already if not both.
https://www.otcmarkets.com/stock/JPEX/news/VeeMost-Technologies-LTD-Announces-Launch-Date-for-VeeShield-Cloud-Security-and-Provides-Operational-Update?id=337724
CEO was formerly CEO of JP EX so these press releases were released on that ticker.
A hedge fund CEO Mitch Hovendick deliberately scuppered the sale of the ticker so Melvin Ejiogu walked away and found GDVM instead.
Steady buying pressure today. Cyber security industry is forecast to be valued at $150bn this year!
https://www.otcmarkets.com/stock/JPEX/news/VeeMost-Technologies-LTD-Launches-VeeShield-Cloud-Security?id=340839
It’ll get even thinner the higher it goes.
2.6c broken. This is where it starts getting interesting!
Veemost Technologies Twitter Account.
https://twitter.com/veemost?s=11&t=Iu8-78mbKC7iJ2TwZ4XcHA
Incorrect the CEO is a connection on LinkedIn and she has never mentioned any connection at all. I discussed this with someone I respect here on this board and we both came to the same conclusion as above.
Be careful what you wish for,
Nope couldn’t figure out how to use it!
What’s the drag factor according to your software? I’ve been watching this one a while and noticed the end of day buying yesterday.
Social media is saying that Wall Street Bets is working on this ticker
Opening an account with Questrade from the UK is costly for the hoops you have to jump through and not all that easy to withdraw money from either but it is what it is. Glad I’ve kept mine open.
Also you can day trade with any account value like UK brokers with any Canadian brokers.
I won’t use Schwab and Interactive Brokers doesn’t allow trading as usual!
Never mind I’ll fund my Questrade account at the end of the month and IB can say bye bye! Canadian brokers will even let you buy expert market stocks.
Just strikes me as odd how many OTC tickers that IB has a trading restriction on which have a significant amount of shorts on them as well that other brokers lift the trading restrictions on but IB doesn’t.
Yes you can open an account with Schwab London either $25k or £25 k to open. Then Interactive Brokers allows some OTC but not this one!
Everyone please read this. The furu’s who think we need saving will always show up after market close because they know that their posts have a much greater chance of staying on the front page of the board where people will see them.
It’s really really simple.
If you ignore them and don’t reply to them, they will go away very quickly because basically they’re attention seekers who mommy and daddy didn’t give enough attention to as a kid so they like throwing their temper tantrum and hissy fit by posting rubbish and being disruptive.
Actually it’s a very common surname in the state of Gujarat. The Indian equivalent of Smith!
Companies usually can’t put news out before it’s release has been authorised by their attorneys who might make changes to the content first and the Attorney always has final say.
Note how quiet they went after initial tweets this morning and they knew they would be pink current today because they even tweeted it themselves yesterday before market close.
Well they only have 16 followers on their twitter account but I’m presuming that if there wasn’t something in the works that Cardi B would have told them to delete the tweet.
At times like this I keep thinking that it’s not necessarily what people say but what they don’t say or if the tag on the tweet was erroneous that Cardi B could have easily reported it and it would have been deleted when twitter reviews it.
I see so there’s some kind of hook up or product endorsement in the works then?
Goodness me does that mean that something is about to happen on this ticker with all the activity today?
What was your name previously?
Erm yeah! Lol But everyone knows what it is!
Ok I have found him
I know the link says Brian Esposito but when you click on it, it takes you to Ken Patel’s page.
Yes but, also remember that he seemed completely unaware that the SEC always takes 60 days to review a form 10 before they say whether everything checks out.
It is my understanding that since that initial Form 10 was filed more and more has come to light holding up any hopes of moving forward substantially.
After the Form 10 was filed he was tweeting and clearly under the impression that GVSI would be pink current a few days after that.
Since then so many anomalies have arisen. The company having three different names with FINRA, the SEC and the Secretary of State makes it extremely difficult to clean up the shell.
Honestly, there are a lot of much cleaner otc shells ready to buy which have already been cleaned up substantially.
Tick tock
Hi just reading. Please was looking for something on social media confirming that Brian Esposito is linked to the company. If you can point me in the right direction I’d be grateful.
Many thanks.
Folks should also remember that with some of the sophisticated platforms, with the desktop version, their platform actually allows you to choose which market makers your order is routed through to create the illusion of toxic market makers appearing on level two!
Sometimes I think with too much choice such as this, it allows retail to manipulate the trading action way more than they should be able to.
Everyone go and read I like BB ‘s twitter account he’s taken a screenshot from the account of the guy who received the email from the CEO!
His account is @thommic
Go and see for yourselves.
Anyone saying anything different is deliberately trying to drive the price down with incorrect information!
Indeed looks like a winner. Twitter was on fire
You’re in this one huh message me and let me know what your thoughts are.