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Some profit-taking last hour. But not to worry.
An acquisition announcement should rock this stock easily above $.03 - possibly as high as $.04.
Patience will be rewarded.
Sorry, but I really don't know.
Doesn't take many shares to own a significant piece of SNPWD.
Just 2,500 shares makes you a 1+% owner of SNPWD.
Someone took a significant step towards that goal by buying 400 shares this morning at $2.95/share.
Another trade shows someone bought 75 shares at $5/share even though the ASK price was $3.05 at the time.
Check out these facts at the time and sales link below:
https://ih.advfn.com/stock-market/USOTC/sun-pacific-pk-SNPWD/trades
Big news will come in September with Annual.
Previously I though they would release something in March or April (around the end of Q3). But now after that stupid "ASAP" post, I don't believe that is their target date.
Releasing all the news at once in the Annual report is more likely now that they are late with Q2 fins by more than 10 days (Q2 was due on Feb. 14). Either these guys just don't get it, or they are holding back all their material news until they can release it all at once. Release in the Annual report makes sense to me as once again the Annual report will become the critical document necessary for MVNT to remain at least Pink limited and not relegated once again to the Expert Market.
Sorry for this disappointing viewpoint but it's not my fault that MVNT management is such jerks. Live with it or sell your shares. Those are about the only choices left at this point.
Don't have Level2 anymore. Can you show screenshot?
Coincidence or NOT?
I'm looking at the chart pattern for MVNT in the months before its price explosion in 2021 and the current chart for the past 6 months.
The similarities are striking, at least to me.
1) Back in 2021 MVNT had a small run up to .0369. In 2023 MVNT had a run up $.0330.
2) In 2021 there was about a 3 month decline and base formed in the low 02's. In 2023 MVNT had a similar decline below $.03 to a base around $.025 +.005 (never above .03 and never a close below .02).
3) In 2021 after the base formation, MVNT exploded both in volume and in price. What was the "trigger" for that move? As I recall it was the filings that made MVNT current and an upgrade to Pink Current. Could something similar happen in 2024??
In any case, the links to these two chart are below. I haven't tried to "smooth" the current chart as it shows much greater volatility, but maybe I'll try that over the weekend. And it's too bad I can't overlay the 2 charts as I suspect they would look similar, except for the big price jump in 2021 and all the volatility we've had had the past 6 months or so.
https://www.barchart.com/stocks/quotes/MVNT/technical-chart?plot=BAR&volume=total&data=DO&density=M&pricesOn=1&asPctChange=0&logscale=0&indicators=ACCUM;RSI(14,100)&sym=MVNT&grid=1&height=500&studyheight=150
https://www.barchart.com/stocks/quotes/MVNT/technical-chart?plot=BAR&volume=total&data=DO&density=ML&pricesOn=1&asPctChange=0&logscale=0&startDate=2020-12-17&endDate=2021-05-31&daterange=specific&indicators=ACCUM;RSI(14,100)&sym=MVNT&grid=1&height=500&studyheight=150
So I ask. Coincidence or not? LOL
Agree. 2/21 had ZERO volume until 10K was traded 2 seconds after the close.
Then yesterday MVNT had its third highest volume of 2024 including a premarket T-trade.
Maybe today's the day we find out something?
MMs playing games with the ASK price.
Here are the ASK price changes recorded on my Schwab time & sales feed since that last trade at $.0200 -
$.0265
$.0285
$.031
$.030
$.029
Bid prices were consistently $.025 >
Here's a walk down memory lane in 2021:
Date Open High Low Close Volume
May 06, 2021 0.0999 0.1090 0.0932 0.0975 3,554,463
May 05, 2021 0.0960 0.0997 0.0805 0.0957 2,948,368
May 04, 2021 0.0835 0.1065 0.0712 0.0940 9,138,440
May 03, 2021 0.0895 0.1199 0.0700 0.0890 28,393,977
Apr 30, 2021 0.0222 0.0600 0.0222 0.0600 23,801,681
Apr 29, 2021 0.0229 0.0239 0.0204 0.0239 352,426
Makes sense, but why all the drama and delay?
Is there really so much "new" to report? Or could the JV partners have veto power on what can be released?
Nothing in the past 12 months or so makes much sense to me anyway.
Any financial releases could be nothing dramatic or exciting. Just the same old, same old. A few hundred K of revenues every 3 months and close to break even after deducting operating expenses.
Very disappointing potentially. Even nice sounding forward looking goals would not excite me as I don't have much confidence or trust anymore in their pronouncements.
Sad to say all this, but maybe THIS time they can provide some evidence they will carry out any forward-looking material objectives.
The volume today has definitely been a positive.
Too bad some bid whackers showed up. -lol
But no matter when the material news is released, I'm sure there will be plenty of bid whackers around who have been waiting a LONG time to collect some profits.
Can't do anything about that.
Approaching disappointment #1025.
That's how many days it has been since MVNT reached its all-time high on May 3, 2021. Will be official at market close.
Should have stuck with my original estimate of around April for material news. And that was my optimistic hope! -LOL
At least we got volume today, 444K.
Most since Jan. 18, 2024 (896K).
29's gone already! This is what happens when impatience takes over.
Some are so desperate to get out of this ticker they will sell on any uptick in the bid.
Just proves MVNT will need some great news to provide the encouragement and volume to break out to new 52-week highs.
Doesn't matter who's doing it. Sellers should realize how to sell small lots not to kill a rally.
Oh well. That's how it goes on the OTC.
Seems someone trying to stir the pot.
Not really. Need to see a new signature on fins to be sure.
SNPWD volume down hugely today (>95%).
Seems trading settling into a narrower range around $2.50 +.50.
So far only 1 trade of more than 100 shares (at $2.50).
Looking less and less likely I will try any short term trades.
Hope new accounting team reveals more info on JV.
We need some meat on MVNT's bones. -LOL
Won't get too excited unless bid starts moving UP.
When this blows will be like Mt. St. Helens.
A mirage. We've been in the desert too long!
LOL
"I know what I own and the high risk involved."
I thought similarly last year. But when I re-evaluated this stock, I realized that in all likelihood I owned an OTC scam stock.
I didn't react immediately and so I lost ~$750 when selling all my SNPW late last year and early this year. Fortunately, I didn't go "crazy" buying those cheap shares under a penny and was lucky enough to reduce my losses when SNPW had that last run to ~$.80.
This is just my own story and doesn't really apply to you or anyone else specifically. I just wish folks would re-examine their own DD in light of the recent retrenchment of SNPW (temporarily SNPWD) to the trips (before correcting for the 1:4000 reverse split).
Good luck with your holdings. I'm still watching here for the final chapter in this story. With more reverse splits, this story could go on for many more years.
Very observant. Every 1K traded equivalent to 4M presplit SNPW.
So for example, 5283 shares SNPWD traded yesterday was equivalent to 20+M shares presplit SNPW.
Today's volume of 7,850 (so far) is equivalent to 30+M shares presplit SNPW.
There's still interest in trading this ticker no matter what the share price is. So far.
Could be? WTFK?
Those 2 30+M volume days recently seemed to come out of the blue. Highest volumes since July 18, 2023 (53M).
Trying to speculate on these last 2 MVNT trades isn't worthwhile imho.
I'm just taking them at face value, meaning that they were "unusual" and have not occurred much in the past for MVNT. At least not in my recollection.
Yes, that is the perception of many OTC traders.
However, in this case I believe a foreign trade is more likely. Also note this in the Investopedia link I posted: "An investor can sometimes tell if a Form T transaction is by a buyer or seller by looking at the price the trades were entered at."
Since this trade was near the ask price, it was more likely from a buyer rather than a seller.
Check the iHub link. It says "form t".
https://ih.advfn.com/stock-market/USOTC/movement-industries-pk-MVNT/trades
T-trade this morning. Very unusual for MVNT.
Opened at $2.80 - currently $2.20 - low $1.50
Lots of volatility so far today.
Keep an eye on OS. Currently 244,193.
https://www.otcmarkets.com/stock/SNPWD/security
Share price hanging in there today. UP 65% from Friday's close.
Volume also decent. About 14.7M equivalent pre-split shares.
Nice to see some buying today. If only BID moved up as well.
SNPWD trading today. Volume as I write 1,120.
Last time GDVM traded below a penny - 12/15/2023.
Just a random fact on this quiet Sunday.
Looking back there were only 11 trading days from Nov. 30 to Dec.15 when GDVM had trades below a penny.
My conclusion is that those who got GDVM shares under a penny should consider themselves very fortunate. We may never see GDVM shares below a penny again. (jmho)
https://ih.advfn.com/stock-market/USOTC/global-developments-pk-GDVM/historical/more-historical-data
drop in share price to 0.0013 pre-split ??
Where did you get your data? Fidelity is showing a closing price of $2.00 for SNPWD on volume of 1,196 shares.
That is equivalent to a "pre-split" price of $.0005.
I find the same data on Schwab as follows:
Anyone think Velocity is part of JV?
I do because Velocity is still a private company owned by Linh Nguyen. Velocity was supposed to be part of the MVNT empire. Back in 2019 Linh clearly stated that. Originally MVNT was supposed to be an oil and gas parts and services public company formed by acquisition of at least 3 then 5 and perhaps as many as 10 private companies. Well that plan was likely dead on arrival when COVID struck the global economy. Now perhaps instead of a conglomerate, HiAlloy Valve (the sole private company acquired by MVNT) will be part of a Joint Venture with 2 other companies. If that is the current plan, then MVNT will NEVER achieve the hoped for millions of dollars in revenues. The JV might achieve millions in revenues, but NOT MVNT. That is unless Linh changes his plan of JV to a plan of acquisition by MVNT. Only by acquiring private companies will MVNT ever achieve a revenue goal in the millions of dollars.
That is my current view of the status of MVNT.
Good question. Remember reading someone saying it takes two days for those holding pre-split SNPW shares to sell their SNPWD shares.
I really don't know for sure. On-the-other hand if you want to BUY SNPWD shares, you should be able to do so today.
After the "shock and awe" yesterday, I'd be very surprised if anyone bought SNPWD shares today.
Thanks for confirmation. Probably no trades though today.
- jmho