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Sunday, August 10, 2014 10:39:43 AM
When CANV ran to 200 in February, the reason wasn't the 10M - 20M shares that were outstanding, but the 100K or so shares in the float that were free-trading.
With so few shares available, and held in so few hands, the price ran on a short squeeze and manipulation.
On Feb 21, the day that CANV hit $201, 50K shares traded, and we found out a few weeks later that Stuart Titus of General Hemp was selling 62K throughout the run up and down, ending up with about $7M in the process.
Even after that sale, there was still probably less than 200K shares that were free trading.
We're probably now at 1.2M - 1.6M free trading, with many more on the way.
When CANV's free-trading float is up to 10M, or so, and with revenues for 2014 less than $13M, it will be much harder to manipulate the price.
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