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The OTC market is in shambles. My opinion.
My evidence: On Feb. 23, 2024, the OTCQB index hit a muti-year low of 208. The all-time HIGH for the QB index was on Feb. 16, 2021 (740). That means the QB index had lost about 72% of its value in 3 years. QB index has seen a small rally of about 10% since that all-time low.
I've seen many other posters on other boards come to this conclusion as well. Nothing any individual can do about this except hope for some dramatic event that makes risk seeking investors return to the OTC. Maybe something like a "crash" in the major market indexes (S&P, NYSE, NASDAQ) would help. Bursting the crypto "bubble" might help as well.
Only time will tell if the OTC can recover from its currently low status with traders but WTFK?
Risk appetite on OTC seems greatly diminished.
And why not? "Real" companies listed on the S&P or NASDAQ which are much less risky than any OTC company have gone up (on average) ~30% since the index lows in late October last year.
OTC is dying imho. However, it may be revived if and when there is a broad market crash. Not a pleasant thought to contemplate, but many analysts are looking for such a correction once the 2024 election results are finalized.
Don't expect news until after Annual is filed.
I keep saying this but it seems no one wants to contemplate predictions like that. lol
It's all up to MVNT management, especially Mr. Linh Nguyen.
MVNT already on the back burner for me. Might have to move it further back than that. LOL
It's obvious. MVNT in a quiet period. Big merger/acquisition coming SOON.
Or someone sprinkled too much fairy dust on me. lol
VNTH just a pile of horse manure (shit).
HUGE sell off today. Looks like VNTH will go down to $.0001 very soon. One more sell off like today should do it.
NICE GOING FRANK!!
No dilution should be the biggest factor on OTC.
"Should be" but many times isn't. Besides no dilution, revenues should be another big factor in determining an OTC share price.
Both of these factors seem to be favorable for GDVM.
And I don't care if GDVM is late on every one of their filings. As long as they don't get downgraded to the dreaded "Expert Market".
merger with Foxess or GEP - That was said with tongue in cheek.
In short, I don't believe any rational company would engage in such a merger. After all, as you suggest, what does SNPWD have to offer any company? Cash? NO. Patents? Not anything of value as far as I know. Relevant expertise? None that I know of.
The only possibility I can conceive of is for access to the US market. But surely there must be other ways of getting access to the US market besides merging with a US company? However, since I don't really know much about how foreign companies gain access to the US market, I can't really comment any further on that possibility.
Probably before we know when it is supposed to
Agree. SNPWD seems to be laying low now for whatever reason. So I'm not going to try and guess when it will come off.
All I know is every company that I have owned with a D appended had it come off after 19 or 20 days.
My wild guesses run from bankruptcy to a merger with Foxess or GEP.
But like you say, "who knows"?
Probably correct. That's why MGUY price sits below $.01.
Hard to believe an OTC company with revenues over $50M has a share price so low.
But that's the OTC for you. Can't count on anything! LOL
Thank you for your thorough reply.
Your patience is much greater than mine regarding the question of who controls the removal of the appended "D".
When I have time, I'm going to go back to FINRA to see if I may have missed something (even I make mistakes occasionally - lol).
Given what you have found with co-pilot I found this part most interesting: "The decision to remove the “D” designation follows a predetermined timeframe and is not discretionary." This makes sense if FINRA is in control of these changes, and it is up to FINRA not the company who decides when the D is removed.
Perhaps since the RS was a "whopping" 4000 to 1 (essentially wiping out previous shareholders), FINRA is keeping the "D" appended until it receives some unidentified info from the company. This makes sense as well to me.
Anyway, as I said whenever the "D" comes off it probably won't matter to those who are trading this ticker for short-term gains. Heck, if I wanted to swing trade SNPWD I could probably make a few bucks as well. However, such trading is definitely NOT worth the risk to me for a few bucks.
I plan to keep following this ticker just out of my own curiosity. I've got a feeling there is more to this story than we know publicly. But who knows how this will end? I for one would surely not claim to know how it ends. I have some hunches, but no sense in posting them as it is all merely speculation.
Traders disappointed with Annual Report. VASO down ~14% (as I write this post).
I still believe VASO will benefit in the long-term from its upgraded listing from OTCQX to NASDAQ. OTC traders are notoriously short-term focused, and I plan to hold VASO shares for the long-term.
I'm not worried about the price dip today; in fact, I am adding shares to my VASO holdings. Yes I know that a reverse split will be occurring. But I think in the longer term VASO share price will be more closely aligned with its $176M valuation on NASDAQ that it would be on the OTC.
jmho
MGUY files Annual Report. Remains as PINK CURRENT.
https://www.otcmarkets.com/otcapi/company/financial-report/396357/content
MVNT will continue dancing around $.02 until news released.
6 times in the past 3 months this has happened (daily high above $.02 and daily low below $.02).
JMOP (just my own prediction -lol)
You are correct. But then my question is how long can a company maintain a "D" at the end of their ticker?
Most references say 19 or 20 days. Yet here we are more than 45 days since the "D" was added.
Could it have something to do with the Corporate Action Flag that FINRA placed on the ticker?
That flag was removed 19 days after FINRA changed SNPW to SNPWD. (see my previous post: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174152511)
Yet still the D remains. Ticker name doesn't really matter to those trading this company, but I am just curious why the "D" hasn't been removed yet? Do you have an answer for that?
How about CPAP? C= constantly or consistently.
That way we have real acronym (CPAP).
FINRA Daily List shows SNPWD corporate action flag removed on March 14, 2024.
Yet the "D" remains.
https://otce.finra.org/otce/dailyListDaily List Date/Time Event Type Eff/Ex Date/Time Symbol
03/14/2024 00:00:00 Subject to Corporate Action Flag Removed 03/14/2024 00:00:00 SNPWD
Found out why the "D" still remains on SNPWD after ~45 days.
Here's the answer from FINRA:
Patience on the OTC has been required lately.
Most of my OTC tickers have big double-digit losses from my average cost. It's very depressing.
However, there are 9 months left in 2024, so a turnaround is still possible.
No point in being totally negative.
BOL
Decent volume today. Too bad it's mostly to the downside. :(
ALAP. I love it! It describes almost perfectly MVNT's attitude towards financial filings.
Only once in the past 5 years has MVNT filed an Annual report early. That early filing occurred in 2021 when MVNT filed their 2021 annual report on Aug. 20, 2021. It was due Sept. 28, 2021.
Instead of "SOON" or "ASAP", ALAP should become the new watchword for MVNT filings. LOL
Agree. Possibilities exist for good news on several fronts.
But at least JPEX has roughly another 12 months before shareholders have to worry about the dreaded EM downgrade.
Actually it's due in 15 days now. And if they miss that deadline GDVM will get the new OTCM "grace period" which is another 15-day deadline.
OTCM has been getting very strict about their filing deadlines. It's not like the "old days."
Annual report guarantees PL for another 12 months.
I believe they will need another Attorney Letter in order to be upgraded back to Pink Current.
IDK. Haven't read the report yet.
NCNA announces 1:25 reverse split.
https://finance.yahoo.com/news/nucana-announces-plan-implement-ads-203000210.html
Wow. VNTH actually filed an Annual report today!
https://www.otcmarkets.com/filing/pdf?id=17405624&guid=lpd-kno1-l2jJth
Getting dizzy from all the ups and downs today.
Really hard to figure out what is going on here. LOL
Of course like I said in another post, "This is the OTC" where almost anything is possible. Even gains of 1000% lately seems to be happening more frequently than the past year or so.
Thanks - I think? LOL
If you're correct my goal of selling off all my OTC tickers within the next 5 years may be impossible without taking some HUGE losses.
Maybe the best thing for me to do is pass those shares along to my heirs. As I understand it, when shares are gained through death of the owner, the basis for the new owner changes from what it was previously to what is on the date of death. If so some lucky dog will inherit some of my OTC shares for 80 to 90% lower cost basis.
This is OTC. So what else is new?
Why won't MMs sell shares at the ASK price?
Are they afraid to open new short positions?
Are you talking about Level2 quotes?
I can't see those any more on TDA. Only with OTCQB tickers.
Wish MVNT could upgrade to OTCQB.
How about a screenshot of L2?
zoominfo says Darrow a small outfit (Revenue<$5 Million).
https://www.zoominfo.com/c/darrow-associates-inc/38097710
Maybe there is more than one Darrow Associates??
Would never trade an odd number like that.
Goes against the grain.
Just another weirdo basher. Ignore!
True. But takes just one guy to sell ATM.
That's what likely happened those other times when price went below .015 for a short time. Don't forget MVNT has closed below $.02 only once in the past 6 months!
Selloff like last Nov or Jan wouldn't surprise me.
It's how MMs can expand their profits, even for low volume tickers like MVNT. A few hundred thousand shares on the sell side would send MVNT sp crashing. That same volume will bring the price back up though. It's all a part of the MVNT merry-go-round. -lol
MVNT watchers gonna be sorry they didn't buy at current prices.
Too bad. -lol
$.0295 close even better! Now that's more like it.
What about NILA? Up over 1000% today!
However, MVNT not a "typical" OTC company.
So maybe for them it is just the opposite: good news = silence; no good news = megaphone with forward looking statements that never happen! -LOL