well I'm guessing everybody who bid 2 got their 2s.
and sadly yeah, I think what we've got is ballas using his relatives and compatriots rolling this 2/3 now 1/2. he's probably borrowing convertible shares from companies that don't even have the cash to back the shares. doesn't matter, he's now making 10K or more a day.
that's bad unless you want to mega-tank on trip 1.
but it's clear that they might run this thing 1 to 3 forever. that would be bad.
the upsides:
Smokey said they probably do not want to go nobid if they are using a corrupt machine cuz that draws attention to the forbed 0 to 5. At this point I can't even defend ballas. he's using a viable company (if his press release is to be believed, and man I'll even give it a 50% belief factor he's getting revenues from his ambassador program) regardless, he can't afford to have a microscope on him.
reverse split - definitely can't get listed by the Nasdaq....but am worried that all he needs to do is draw up a contract with the OTC markets and find a shady approver...and bam we are on a whole new downslide. I think someone here who knows more than me says that would also be difficult.
at this point its tank up and pray or wait for the inevitable day they let it run so they can make more than 10K a day....reference the WGI to 28 after walked away and came back story.
however, I give a little hope for possibly tomorrow:
we broke the 3 wall on last Friday. I know I get a LOT of flack from the folks here saying blue chips aint OTC pennies....but I've noticed something in my 2 years of trading in hatetrump.
in 2017, in the slow bull, Fridays were bad because peeps took their profits and sat in cash thru the weekend. Thursday were ALWAYS bad. korea nuke stories, yada...always hit Thursdays.
in 2018...Thursdays were the WORST...but Fridays typically rebounded.
my theory is that most peeps who are wanting to tank markets are writing their hit pieces Monday to Thursday, but they are middle class full benefit types who loooove their 9/80 work weeks and taking those 3 day weekends.....
My theory is ballas and family....er...market makers took a 3 day to celebrate last week.
it might not be smart though to break the 3 wall cuz they'll be back on Monday, writing press releases and dumping shares. but you all might want to slap a mil on the ask 3 GTC, grab a few 2s tomorrow which are probably guaranteed in light trading.....and get ready for 1s next week. or just get rid of a pesky mil if you want to sell and gtfo. Tho I think most weak hands disgust sold looooong ago.
Eventually when they are tired of tanking up, they'll want to let it run. Heck, I'm hoping ballas' PR is true and the damn company outperforms to gain notice from some third party to despite him.
