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Little bit, seemed to me there was too much bid support, so someone decided to take it all out to lower the price and had an order lurking below to fill the remaining order.
All goes with the controlled loading that has been happening, just seems more likely that it is being done by large pocket investors and not regular retail, accumulation continues to hit all time highs, weird trading continues with zero shorting going on
Was basically prearranged so not really a buy or sell, but think it posted as a sell. Nothing was ever on the bid or ask for it, it just filled
No of course not, another OTC stock, just shows how news doesn't even move the needle all the time in the current market.
MVNT needs to get current, release a comprehensive update and then come through right after with the goods, so similar to the one time they gave a detailed update, do that again but know the follow through it right behind.
The punch of getting current, news setting the stage followed by merger announcement, QB upgrade application, audited financials hitting in September and continued large revenue increases would build continued and sustained attention and open it up to a broader investment base
And even with news no telling if interest will be there, company today announced buying/building a casino on St. Vincent valued at $50M, stock is down 10% after a quick push and dump at the open
Be interested to see what would happen if a large bid showed up, would it get taken out?
Normal, regular folks are not using JANE or INTL, you need to register directly with those brokers to use them, they do not route regular retail orders from the normal brokerage accounts.
Weird isn't it?
Well put it this way, try to put an order in at 5 demcials and see what happens and add to that how would retail instantly be able to fill a retail ask slap below the current ask?
Add to that the numerous 100, 1000 or so paints up and down and other odd trading and it clearly is algo trading except there is zero shorting.
So that either means, insitutional MM's are loading shares for themselves to hold or they are loading for large standing buy ordres for those type of bigger pocket players trying to load a lot of shares and do not want to sit in front of the computer all day actively trading
Can only be an institutional MM, whether foreign or not there are deeper pockets loading shares, so standing orders are out there and are being executed with algo trading.
I cannot recall every seeing this type of trading on an OTC stock before, once again there if much more going on with the trading than know even with this low volume. Undercutting the ask with a 5 decimal trade and it not being a MM short is very very strange
Undercut of the ask with a 5 decimal trade to prevent slapping of the ask into the close and there were zero shares shorted on Friday, so who can possibly ensure the ask is not hit by retail with a 5 decimal fill if not MM shorting?
He does have actual SEC reporting experience and seems to have a decent resume for reporting, so I could see with him being the CFO he wants to get everything cleaned up.
there is a difference between just being a hire consultant and preparing the financials which is a check the box type exercise, versus being the actual appointed CFO and preparing the financials. Whether there is an actual different in practice, the perception is different enough for Jack to want to make sure everything is good.
Hard to know, are they doing it to just try and keep people quiet? are they doing it to cause confusion? Is the person putting the tweets out not understanding what the financials take?
I will say, working for prior NASDAQ company, CEO and even CFO who did nothing for the financial statement prep were so removed from what it took and how long it would take to get the financials done, now things were always set on a specific reporting schedule, but they would often say things internally that made no sense as far as how long it would actually take to get things done.
I suppose the first question would be, who is running the twitter account?
Perfect example, the 20k at .012 tried to hit the ask to close the week and it filled at .01275, let's see if that is shorted or not, if not, who the hell can make that fill? Retail can't do it, so who?
Can easily think that but doubt it, they could easily slap financials together and post them, Let's be real, not like the OTC really looks into the numbers or cares much of what is there as long as the boxes are checked for required info.
Which honestly that is what most OTC companies do, if you take a dive into a lot of companies financials if they have numbers, they often make little sense. So in a way them taking their time can be seen as them wanting to do things correctly, have larger plans where they don't want to put out financials that will need to be corrected if/when they want to be SEC reporting and audited.
Especially if there is nothing really new or significant in them, perhaps Jack since he is now officially the CFO and more so on the hook for the financials he is getting everything sorted out and fixed from their on going GAAP reporting problems and setting the stage for audited, SEC reporting starting next fiscal year. Mind as well be late now and get this quarter cleaned up to make it easier for the annual report.
MAy and June in total was 22M shares, of which 8M+ happened with those to larger market sells, with one filling at the bottom with 6M block and the other a 1M fill after taking out other bids.
This will be the lowest volume week since MVNT took over the company, sure no buying, but also no selling
Volume has been low all week, so we have seen weird trading in the past month or so with little to zero shorting by MM's, 5 & 6 digit trades, ask sizes that don't change when slapped, undercutting the ask to fill and ask slap buy, all that were not done via shorting by MM's which is odd. So I have wondered if larger pocket investors have been loading shares with institutional brokers who were using their computer trading to fill orders.
The lack of volume means they are done loading at least as aggressive as they were, that there is just nothing really for sale so the algo's have little to play around with and that retail is holding their shares while loading more.
Generally speaking, low low volume after a downtrend with rising accumulation would indicate a bottom and setting up for a reversal, but things here have not really followed any sort of text book trading
That is the case with every single OTC stock, that is why people say it is the casino and not investment's, of course it is all predicated on whether they come through or not, the same as it is with all other stocks.
It comes down to risk/reward, is the reward potential greater than the risk potential and this stock still have a very attractive profile based on all underlying factors when compared to a large swath of the OTC.
So duh! Of course it is all about if they come through, no one would ever question or dispute that, it is just a case of do you think it is worth throwing money down on the bet that they do eventually come though, if you think they won't there is no reason to hold the stock
Except they are not, the few that care right now mean very little, if they come through regardless of when it is, what happened in the past will mean nothing for the new money that will flow in and push this.
For one, this is the OTC, prior credibility and reputation means little, there are individuals that scam over and over again and continue to have massive runners on the OTC, that doesn;t seem to matter. Plus, larger pocket micro cap players will not care either, it will only matter what they are doing and what they will do from that point forward.
All of the current issues will be deemed growing pains and not mean anything what so ever
It will recover regardless of where the price falls to, if they eventually come through and if they never come through then management and F&F stand to lose out the most.
I don't think the action has much to do with us small time holders and has more to do with who is holding a massive chunk of the float. I don't believe there are enough individual retail or that many that are holding very very large positions to have a large portion if the 191M held. I'd put the very high max estimate at 91M but think it is lower than that. So the question is, who is holding the 100M+ in shares. This is why even on the slow decline from .05-.06 not all that many shares have traded in a long period of time.
Since March, over 4 month period price going from .0574 to current levels, 55M shares have traded, 29% of the total float and only 17% of the O/S, that is low low volume, all the while accumulation continues to hit all time highs
Based on the financials, family members appear to already own 75M shares of common stock if the numbers are to be believed. Management owns next to nothing in common stock yet there is a different of 75M between the float and unrestricted shares. There are also no other beneficial owners of the stock who hold more than 5% of the common shares.
Been in the same price channel since end of April, so if that's what you mean by dwindling more and more then sure
It has been that way for quite some time, they have always gotten shit in the replies to their tweets, at least for a very long time now
Scorn and derision on twitter? No way, not the twitter I know
Here is data for the last month
Total Vol Short Vol % Short
Jul 06 NA NA NA 18,500 500 2.70
Jul 05 NA NA NA 66,159 35,001 52.90
Jun 29 NA NA NA 795,799 41,000 5.15
Jun 28 NA NA NA 89,250 35,000 39.22
Jun 27 NA NA NA 280,260 15,000 5.35
Jun 23 NA NA NA 95,991 36,000 37.50
Jun 22 NA NA NA 297,736 68,505 23.01
Jun 21 NA NA NA 111,087 1 0.00
Jun 17 NA NA NA 98,247 82,374 83.84
Jun 16 NA NA NA 546,608 85,000 15.55
Jun 15 NA NA NA 73,215 100 0.14
Jun 14 NA NA NA 166,239 5,300 3.19
Jun 13 NA NA NA 171,899 60,747 35.34
Jun 10 NA NA NA 1,467,700 70,300 4.79
Jun 09 NA NA NA 122,679 61,000 49.72
Jun 08 NA NA NA 884,076 107,235 12.13
Jun 07 NA NA NA 395,790 14,190 3.59
Even on the 29th when there was 750k in volume there was only 40k short volume and that was the same day way near 200k slapped the ask and it didn't change the ask size and with numerous fills that happened below the ask at 5 decimals.
Retail can't trade like that, so how was there so much "weird" algo like trading with next to nothing short
For nothing? Or for the millions in dollar of shares that were sold? Sergio and Co. have made a boat load selling shares
Works for president so why not, when else fails blame Putin
Well again, per the financial statement details, direct family members seem to own 75M common shares not sure how else to read it
Some more food for thought
Unrestricted is 267M and the float is 191M or a 77M difference.
Now what is the difference between the 2?
“Public Float” shall mean the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial
owner of more than 10 percent of the total shares outstanding (a “control person”), or any affiliates thereof, or any immediate family members of officers,directors and control persons.
Per the financials, Management only owns a little over 2M common shares and there are zero other beneficial holders listed, that would only leave the last classification of who owns those 76M shares
Even outside the trading, unrestricted share count is 267M shares, at current price that is $3M in shares. Based on overall trading volume that means a very very large chunk of shares are being held.
Overall there is a complete lack of awareness of MVNT, no talk on twitter no talk here no talk anywhere, so how many shareholders do you think their are? 50? 100? 200?
Overall total volume since March has been 50M or so shares going from near .06 to .01 and that includes 7M in block trades that I am not sure were real volume and in shorting volume and actual trading volume is lower than that. So we are talking what 30M or less actual shares traded since March on 267M tradeable shares? That is a very very low number.
So there is a group or someone holding a very very large chunk of shares as I find it hard to believe that there are 1,000+ retail holders or more that have been holding this tight for this long
Or perhaps the reason it has not gone down further is because of who owns a large portion of the float and who is continuing to load shares
Further there were numerous 1k and 200 share trades yesterday and now another less than 1k paint down to start today, with zero shorting there is still obvious algorithm computer trading going on trying to manipulate the action which again to me shows more evidence of deep pocket loading via institutional MM's
Just means they are not shorting, and the low/lack of shorting is not odd in and of itself as with a stock with continued low volume MM's will tend to not be active as there is no volume for them to play with.
The odd thing is how this is trading and the lack of shorting, the undercutting the ask, the fills at 5-6 decimals, the 10k asks that get hit for 100k and don't move and so on. This is typically seen with shorting, so seeing this action over and over with no shorting is very odd.
Again to me it shows someone is loading like crazy, or at least trying to and is controlling the action, pushing it down, trying to keep it down and attempting to cause panic selling and wear down retail to eventually cave in, even to the point of repeated periodic large market sells to take out all bid support to take the bid down to the low .01's
No doubt in my mind that is what that 6M trade was, it was a trade to themselves, they had a large enough order to ensure all bids were taken out and also had a large enough AON order in place to soak the rest of the order
Another day of odd trading with zero shares shorted. Accumulation continuing to hit all time highs, clearly stealth loading going on by deep pockets who are controlling the action, no real other way to explain the action
And overall it is hard to tell the true effect, since the rule change has gone into effect there was an expected "feeling out" period and then the economy and broader market have been insane, so who knows what impact the new rules would have had or not when being masked by the macro level craziness
If shares are being loaded by people "in the know" they will be more likely to hold shares long term for massive gains, so yes it will make the tradeable float even lower and make this move fast.
The CFO himself stated it, well they expected to and then didn't, life happens.
I know of a company, NASDAQ company at that, that took 2 years to file because of accounting issues and they played to same game, we expect to file by X date, then well, we know expect to file by X date and on and on.
People who know nothing of accounting or financial reporting have zero idea what goes into it, just like when people bitch about changes in tax laws when they don't even know how to do their own taxes or what an effective tax rate is
CFO is working, there is much more work to do with the actual company then there is with the public company aspect of it. Almost like business is fluid, timelines change, things happen that change the plan.
So who says the CFO is not working?