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It may turn green after we sell, happened to me MULTIPLE times...LOL
Hoping for the same, but very curious to understand why we are dumping so hard. And yes, lots of theories out there.
Increasing the number for "Authorized" shares is different from increasing the number of "outstanding". They can increase the authorized shares to have them ready to offer as part of a merger deal, not to dilute and offer them for sale on the open market. The entity they are merging with will need to own company shares, and increasing the authorized shares will allow for them to own those additional authorized shares.
No dilution occured yet since outstanding shares did not increase. FACT. Try the dilution story again when we see O/S increases. ASCM is shorting this from the top, they are heavily involved and you can clearly see it on level 2. FACT.
So far outstanding shares did not increase . Dilution is NOT the reason the price dropped. It could be the reason in the future if the lender decide to convert. so far, they did not, so the reason for the recent decline is not due to dilution
Totally agreed. It's a process. Nothing uncommon here.
You buy, average down, and manage your position size properly for those plays, you don't sell for a loss and give up, neither should you go all in. This is the nature of the OTC game. I am in red, but that's what I'm doing.. your money, your decision
Remember a lot of shorts jumped on this as well. So those will have to decide whether to hold or cover before the weekend, not only the longs
Big buys and good news yes.
Correct, it attracted shorts
Good analysis. I would've been more convinced though if the dump did not happen suddenly in the last 20 minutes of trading. Something else went wrong other than the market not being convinced and giving thumbs down to the news The market had the whole entire day to give the thumbs down and was actually giving a thumbs up, why the 180 degree turn at the end of the day?
Thank you very much, this is very helpful. I hope we hear some updates soon.
The only thing that puzzles me about this company is their outstanding number of shares.typically companies that are just after the shareholders money issue billions of shares,as an OTC company, 350m shares is low float, and I do not see any signs of constant dumping of shares on investors.
Scam or not this will explode today. You and I know that, so play accordingly. I sincerely wish you good luck ?? !!
The few individuals who are discouraging people about this ticker after this huge dip due to misinformation that got clarified after market closed on Friday (they can't argue it did) are just here for cheap shares imo. That dip was due to the misinformation,nothing more, nothing less. And now all is clear, and this is going up tomorrow, whether they like it or not. Good luck
Sorry, meant 24 hours
Yup, when I see that there is always a motive, usually one of two, worry about covering a short position or, greed to get in cheap before it flies. having people's best interest in mind is never the motive in those situations.
Arguing and debating now will be a waste of your time and mine. Let's just wait and see which way the price goes on Monday.
I beg to differ
Totally agreed, I 've been noticing the same. Someone with big pockets is playing games with this one. Even on the days with PR's, you see the price starting to jump then here comes a lower ask that keeps getting lower to diminish Amy price movement upwards. Is this a tactic to ,get people fed up and sell for that big pocket to own the float? Not sure.
Price action is not always related to company performance. Someone is selling low and refilling those asks automatically which is camping the price. Who and why, I cannot tell. Maybe a note holder (which should be done and over at some point) or MM/shorter manipulation (very common in OTC stocks by the way, seen it tons of times). People are simply not buying currently because everyone is waiting for this odd price action to end. Once it does, buyers will show up. My opinion, Good luck !!
One day they will, probably the same day I give up and sell !! LOL.
One day we will wakeup to a normal price action, news or no news, obviously does not matter. Until that happens, I will keep buying and averaging down. Patience is key.
Those crooks have unlimited shares to dump, and lowering their ask every single day. Lol !!
Agreed, I bought a ton and still buying at these levels. OTCX is capping the price, all buying is happening below their ask because their ask is simply not "slapable", they keep refilling it. R
Whomever is selling is intentionally lowering the ask. Look at Level 2 and you will see it. Would be stupid of them if the company is doing that imo
Not really, the are back
OTCX seems to be in the background today, and raising their ask price so far. Good sign !
This is great. Thank you very much for the update !
They would be completely out of their minds to fake an agreement with Tony Hawk, a well known person who is still alive. He would simply sue them and they would completely destroy their reputation by doing such a stupid thing. Price is not going up because OTCX has been refilling the ask and lowering it, and for weeks now we have been "forced" to trade under their ask price, and they decide what that price is every single day. That is what we are dealing with here. Whether they are shorting this, selling for a note holder, or just caping the price to load cheap shares, I do not know. All I know is that once they stop doing this, we go up, regardless of PR's or not.
They are however in full control of the price. They keep refilling the ask and every one is just selling below their ask knowing that, period. The crooks have unlimited amount of shares to dump.
I meant OTCX.
Short volume ratio was 60% yesterday per Fintel. Has been high for a while. MM's maybe having a short position on this that they are trying to cover before letting it run. In addition, I agree there is a note holder selling. OCTX is selling for them and refilling the ask once it's slapped. Once OCTX steps back, we will fly in my opinion.
"QNTA - Short Interest - Quanta Inc - Short Squeeze, Short Sale Volume, Borrow Rates, Fails-To-Deliver" https://fintel.io/ss/us/qnta
Absolutely. The crooks don't mind dumping a few hundred thousand shares at a low price to scare people. That's what's happening.
Once the note holder finish selling we go up.
Once they are done they will step back from the front line and either raise their ask price or disappear from L2 altogether, and that should be the sign to wait for imo
I typically keep an eye on L2, and I've tried slapping the ask yesterday and today, and it gets refilled with the same exact amount of shares you just slapped. A few months ago the same was happening but the shares were sold by CFGN. I do not see them in level 2 now so seems like other MM's are dilling those toxic note orders. All I can say is that this process has to end at some point.
That would be like shooting themselves in the foot. I have been following this company for a bit, and did not see fake PR's so far, why would they decide to do so now?. Seems odd to me. Honestly, I think the disappointing price action we've been seeing lately is due to convertible debt notes and not necessarily negative market reaction. Someone has a huge amount of shares that keep refilling the ask in small pieces, which is halting the price movement. I've seen the same happen a few months ago at the 0.07 price level and once that process was done, the price moved up normally based on balanced supply and demand. I will not sell my shares during this sideways movement.
True bulls who can slap the ask are missing in action
Agreed, I loaded a ton. Did you notice however that there are unlimited amount of shares for sale at .048? I tried slapping that ask a few times today, no luck. The same amount of shares get regenerated automatically after I buy the ask, at the same ask price. Sounds like an algo selling