Float is 137 million.
Since the rise (0.009) on the 17th of July, 477 million shares changed hands. That's 3.41 times the float. That's massive. It means that the ones who played us, most likely first took a profit on the rise up. Creating that push, must have on the other hand costed some money as well, meaning large chunks of money being pushed into this one to ensure the 'mass' starts buying (you undercut the bid with a million shares you so called want to buy and in the mean time start scoping up at the ask). If one looks at the 15'chart, you'll note regularly huge blocks going through.
Before Friday, 2.1 times of the float traded (5 trading days).
Last Friday we traded 73 million shares going to new HOY (0.53 times the float). Our shorter gang, but as well people like myself will have cashed in some (I did add on Monday and Tuesday again and have a larger position now). New money will have come on board.
Last two days we had 109 million traded (0.8 times the float).
Regarding the PPS, we're back to the point we were on Wednesday/Thursday. Still up +300%. That's still a serious profit for those buying in before the 17th.
I think whomever shorted this and has not covered, runs a serious risk. If they want to bring down the price to 0.02, my take on it is that it will be on low volume, hence they'll not be able to cover all. Most of the sellers are gone. People like myself will stick around for the news, not being bothered by the slaughter going around. Anyhow, my average is much lower than the $0.009. I know most of us have some 5 or 6 digit numbers hiding in our accounts. So, the float indeed must be close to locked.
So, if news hit, forget it, it will bring buying pressure from all sides and with these stocks you run the risk to jump up considerably. If your short, you'll have to pay up. Based on the above, my assumption is that still a lot need to cover their short position, hence this will bring more buying pressure to the table (potential squeeze).
I follow on the fact that we've been played, still I wasn't expecting a rise to 0.069 in that short amount of time. I'm fine where the stock is now and will await news.
Bottom line : you can sell if you want, need to. Or do a calculated gamble ... stick around and wait till news kicks in. That's the driver that we're awaiting on.
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