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for now, the shorts can just print more air shares and drive this thing lower. They are in such deep trouble they will continue the same antics until the day comes in which they have to unwind their position. I'm guessing these are new buyers, once they buying stops they'll bring it back in. Its quite sad. All these PR's are great but its not stoping the abuse, we need something like a Div or a buyout IMO to get this thing moving.
'mackbryan1' yeah when SPNG finally takes off and is trading dollars, I will be sure to go through her messages and put some money in each one of those stocks. She's a fade for sure.
Yeah, jeez, I mean after these harvard guys buying packaged subprime thinking it was triple AAA, statements like that don't even suprise me anymore.
bid .15 and get them done. Your looking for dollars in this stock, who cares about a penny. They'll fill you better than .15 but if you want em you gotta bid through offer.
'harvard homeboy' 35k minus the 4.45m they paid in cash to aquire Dicon? Or the cash they are using to purchase back stock? How do you figure they have only 35k worth of cash? You think they got any cash from the record month they did in july?
or a dividend
Spongetech Spongebob TV commercial on FBN
Spongetech Spongebob TV commercial on FBN
IB won't let me work an order up there, not sure why, I've had a GTC at $10 for a while. Any reason why?
nevermind, still can't get it to go through
MGT waiting for shorts hands to be tied behind their back?
Have been out of town for a bit so havn't been reading through here. But I do hear chatter about shorting being halted after 12 or 13 days. What if MGT was waiting for this to set in place before making some sort of huge annoucment? This would limit alot of selling pressure, almost tieing the shorts hands behing their banks. Then the stock could really soar?
can't wait for our string of 250% days,
yep, i have a feeling those looking to buy are going to wait and let the shorts try to build up some mom on the downside.
If you have a weak stomach I'd turn the screen off today, just remember the stocks fair value is worth $1 and nothing has changed. The shorts are going to attempt to hammer this thing down today on the news about accounting firm changes. I have a feeling SPNG will be buying alot of their shares back on the open market on the break as will AYME. Infact I think AYME is welcoming this because they will be able to pick up some shares cheaper. STAY STRONG and don't get mixed up in the price action, just do your own homework and you'll realize this comany is worth $1+. Don't get scared like those who puked on black friday at .08.
.1609 bid! awesome, ayme was just .16 offer, then scaled back to .161. Watch for this all day, he baits the other MM's to join him at an offer then scales back.
.16 trades in preopen
or if they are short more than the float. Either way its pretty clear shorty is starting to be exposed
We need something that will blow the NSS position out, then the market can determine what this company is worth. How will we ever trade $10 if the shorts keep creating airshares, overwhealming demand with supply?
firetamer, good call. Heres a chart of that cross.
http://stockcharts.com/c-sc/sc?s=SPNG&p=D&yr=0&mn=3&dy=0&i=t13957868588&r=7512
That was awesome, everytime a MM scaled up on the bid, AYME would match, and so on. AYME then would offer, and have people join him on the offer, then after those offers started trading they'd scale their offer back. They were really accumulating and playing games with the other MM's so they could buy shares.
AYME scaling up bid now, making MM's race him/each other. I wonder if this is what doug is talking about with the whole hannibal war strategy.
ayme on offer, looks like they are trying to keep a lid on this thing so they can buy more on the cheap. I wouldn't be suprised if ayme was for SPNG or some big hedge fund/bank.
there wasn't much there, what maybe 300k? The MM's don't seem to have as much muscle anymore.
yeah angus!
z4lover this is interesting, how long you been watching this? Did spng just make the list? The funny thing is the shorts are going to have a big problem delivering double the float. haha
NOPE WRONG, HA
30 percent reduction says .20, it should already be trading .20 by now. Now all that garbage people were posting about OS being 2b is proved false.
what happened with pokemon? What was the ticker?
XDrew, I feel that regardless if OS comes out at 300m, it doesn't mean the price will go up PPS. Sure in a stock that trades free it makes perfect sense, however when they retired 40% of they're OS last time stock went down. IMO the shorts keep creating air shares, manipulating it lower. What we need is something that will blow these guys out.
Jandrsn21,
I arrive at the figure of over a dollar for fair value using different numbers. I'll post below. But I have a question, why do you take net income divided by 92m? Isn't net income divided by total shares outstanding, regardless of who owns them?
I figure 5m a week in sales, not including any growth. 20 percent profit margin, with a 15PE, divided by 722m shares, and I get $1.08. this is conservative, as I don't account for any more share retirements or earnings growth. My quesiton is, why don't you divide net income by total shares? I hope i'm wrong cause taking your math PPS would be much higher.
Look at that AYME .1289 bid at .129. Interesting. All it takes tomorro wis for them to pull their offer at it'll be .13 bid in no time.
If I had had $50m I'd want to get invested as quickly as possible, better returns when you take into account this stock is worth fair value of $1. So they chase it up to .20, they'll still make 5 times their money not taking into account a short squeeze. I've got buddies at work that scalp spng but their returns are not even close to mine, I bought at avg of .015 and held. Besides, the risk that whatever news that could come out where this stock gaps higher, doesn't make it worth playing their games looking for pennys, when theres dollars to be made.
agree, like jesse livermore
Yeah I agree, it could be the company, although they have bought quite a bit the last week, I havn't been watching tick for tick but they could've done 50m already the last few days, whoknows
Carpe, love reading about USXP. Traded 400x rev at its peak when they squeezed the shorts. Hopefully we see something like that here in spongetech and it trades $150 PPS. That would be equiv of 400x our earnings of 5m a week.
http://www.sec.gov/comments/s7-08-09/s70809-364a.pdf
XDrew, you think they've actually sold? I've seen then best offer but not for long before other MM's jump infront of him. I'm getting a funny feeling AYME is creating a box, attempting to buy as much as possible and tricking the shorts into thinking hes got a lot for sale at .129
I'm waiting for them to pull their offer at .129, flip and go .129 bid. That could set us up for an great close.
TavyCal it was not a sale. I don't care what the MM's reported it as, that was someone buying. No one would sell 5m shares of this stock when its 90 cents under fair value. It makes no sense for someone to dump 5m, if they had that much its because they've done their research and know this stock is worth way more than current market value. The case for it being a buy rather than a sell is much stronger. The naked shorts created 5m air shares to keep a lid on its advancment. Just watch, you'll see what I'm talking about when the shorts start to scramble for the exit.
AYME, second time i've seen that, they go best offer. They stoped the run at .129 an hour ago too. Whats going on, they seem to be real agressive buyers, why put a lid on it?
thats nothing, someone bought 5.8 million around 130, 1 clip
That 5.8m Buy had to make the shorts scared, they at this point know they are toast, it wouldn't suprise me if they sold another 5B in airshares just to slam this stock down because they've got nothing more to lose, they are going to lose everything and more, why not
Fox news spng test, looks fantastic! http://linkbee.com/SPNGonFOX