Resonate Blends Inc (KOAN)

[Toronto_Trader]

They aren’t hiding your bid on L2. Little lesson to everyone who uses L2 for OTC stocks:

They only display the MM ID once on both the bid size and ask. Let’s say your order is directed through ETRF at 42 cents. But someone else has an order of 50 cents directed through ETRF. Their bid exceeds yours and therefore yours won’t show, but you may see bids lower than yours depending on which MM’s are placing the order on the buyer or sellers behalf.

This is why people think that that bids are thin when they aren’t. I’ve heard people say a small dump will take this to 30 cents, meanwhile, it will take tens of thousands of shares to get there because there are so many order unseen on the way down.


As for 40’s, good luck but I doubt it. If it goes there I’ll consider getting more but the last hour of trading activity on Friday suggests we see 60 or more by Monday or Tuesday. If there is accumulation at these levels a 5-10 bagger isn’t out of the question. That puts us in line with what many have been calling out all along, a $3-5+ price target.