Local Corp (LOCM)

[Value_Investor]

What I don't understand is: why those buyers Bid-Sat over 500K shares at 0.0050 since yesterday alone, instead of Slapping the asks which will definitely drive LOCMQ back to Multiple Pennies?

It is a common sense that only the buy-at-the-asks actions could drive a stock's price up while the bid-sitting actions could not help the price upward movement much unless they raise the bids significantly!

In fact we did see the similar actions at the 0.01 bid as well back to a couple of months ago! Obviously the buyers are amateur investors who do not know how to invest into a OTC stock like LOCMQ!

If I were those 0.0052 ~ 0.0050 buyers then I would buy 100K shares at 0.0054 ~ 0.0059, then buy 100K shares to take out any possible 0.0060 ~ 0.0099, then buy 100K shares at 0.01, then buy 100K shares at 0.0101 ~ 0.0199, then buy 100K shares at 0.02 ~ 0.043 and so on...

To match the Same MV with its CH11-peer CBLAQ at $0.07, LOCMQ will create a New high $0.5904 which is 247.3%-Higher than its recent high $0.17!

So LOCMQ is much much much cheaper than CBLAQ now!