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Re: Penny_Layne post# 13305

Monday, 05/20/2019 2:46:01 PM

Monday, May 20, 2019 2:46:01 PM

Post# of 18230
I personally think there is an unreported short position from .0135 level back when this first came back to life. There were about 6M shares sold there, and when the last of them were purchased (over 4M in one block), the brokerage phoned the buyer trying to buy them back, saying there was an error. No deal. They phoned again making another offer with the same results the following week. I just don't see how they could have covered 6M shares with only 16M free trading with the low volume.

I think that the short is a big enough entity to not be too concerned, but it is $$ to them and they probably trade with an algorithm and have it set to try and cover the best they can over an extended period of time without getting hurt too badly financially. I think that's why this got walked back down to the .01's on low volume: so they could try to cover. I just bought more down there to complicate things for them.wink