It's hard to imagine that what's been going in the past 3 days is dilution, here are my reasons:
- The total Volume of November 2, 3, and 4 is 214,025,600 + 65,339,700 + 329,528,333 = 608,893,633 shared traded. Yet the price held strong at 0.0003 and didn't drop.
- The trades suggest strong buying. For example, on November 4, the buy volume is 314,528,333 and sell volume is 15,000,000. That is 95.45% buys to 4.55% sells. This suggests a willingness to acquire the stock (hence buying at the ask) rather than dumping or getting rid of it (hence selling at the bid). If what's been going on is dumping, the 608,893,633 volume most probably would be enough to break the strong support ranging between 300m+ and 500m+ shares in the bast 3 days and bring the price to 0.0001. Yet, the price held strong at 0.0003. NOTICE: Few trades went at 0.00027 and 0.000297 and considered as 0.0003.
- Despite the traded shares, the support not only held strong but was actually increasing.
- The chart looks good in my opinion.
This is not a confirmation or assurance of anything but just trying to read through the trading pattern of the past couple of days. In my opinion, the situation of this stock is good so far.
However, on the other side, this total volume could easily push the price higher than 0.001 which did not happen (so far), and the 10,000 ask volumes of BMAK and VFIN that keep selling are suspicious and strange enough to suggest that something is happening behind the scenes that they don't want exposed to retail traders. Probably someone or entity wants to accumulate big shares and realized they can not get them at the bid because of the big support but at the same time do not want to push the price high.
Again, this is not a confirmation of anything, just thinking.
Your money, your decisions.
