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Wednesday, August 11, 2021 11:46:20 PM
Daily Share Volume / Outstanding Share Count = Volume %.
August 11th = 524,343 share volume / 16,113,727 outstanding shares (float) = 3.25% of float turned over today. Note: in $UPIN's case, the float = the outstanding share count, which is unusual. Most stocks, the outstanding share count does not equal the float.
How high is that 3.25% number? Pretty fooking high. It's about 4x normal.
Following is some data I downloaded from the OTC. The past 2 days, 571 US-based stocks have traded between $0.01 and $0.10, including $UPIN. August 10th, the average daily share volume of those stocks was 3.25M shares, with that representing about 0.883% of the outstanding share count. August 11th, the average daily share volume was 3.83M shares or about 0.837% of the outstanding share count.
Typically, the lower the share price, think sub-penny, the daily share volume accounts for a higher percentage of the outstanding share count. I won't go so far as to say $UPIN is trading like a sub-penny stock but something weird is going on, and it's holding the share price down.
August 11th = 524,343 share volume / 16,113,727 outstanding shares (float) = 3.25% of float turned over today. Note: in $UPIN's case, the float = the outstanding share count, which is unusual. Most stocks, the outstanding share count does not equal the float.
How high is that 3.25% number? Pretty fooking high. It's about 4x normal.
Following is some data I downloaded from the OTC. The past 2 days, 571 US-based stocks have traded between $0.01 and $0.10, including $UPIN. August 10th, the average daily share volume of those stocks was 3.25M shares, with that representing about 0.883% of the outstanding share count. August 11th, the average daily share volume was 3.83M shares or about 0.837% of the outstanding share count.
Typically, the lower the share price, think sub-penny, the daily share volume accounts for a higher percentage of the outstanding share count. I won't go so far as to say $UPIN is trading like a sub-penny stock but something weird is going on, and it's holding the share price down.
