well I mention UBQU because its just the one pos penny I hold.
the larger story is that there are now 10,000 penny stocks in the oTC, before the purge of pinkdom in 2020-2021, there were 8000 more.
they said they can't short penny stocks. millions don't believe that any more.
so what they did was for all the pos pennies and some healthy companies too (sears blockbuster, toys r us to name three) was get the toxic lenders in. then the convertibles get shorted in and the loans 'forgiven" at 50% of the crash. retailers panicked in past, sold, so the convertibles didn't equal the debt, forcing the company to go back to repeat with more toxic shares or die.
wall street used this as a way to both clean up market making (nobid is their favorite, with 100x on the 000001 and the 0001)
naked shorting to be the liquidity fairy (who is ever going to clean up this mess down here?)
and eventually get them moved to expert. notice, not delisted, then you might have to clean up the share structure. then they can sit there with no covering, no taxes paid, no closing of the positions. throw in uniswap, and later you can hide OTHER shorts in your POS pennies.
so UBQU imo is a tiny subset of the bigger situation. wouldn't surprise me if other nobids did that weird thing yesterday but I don't know.
so my "confidence" isn't in a pos penny stock, its more in my confidence that the financial system is so messed up, that the place to be is in companies that have a product, so the bad guys have at least some lame excuse should they do a collateral pump and fake PR,
and might have toxic lenders now who realize they might have a squeeze play on their own hands. UBQU filed and the filing was horrendous. a "normal" company GPL just wanted to let go would have just let it go expert. that's the only confidence I have in UBQU....and I'll admit, it's not like crazy high confidence.
but that the collapse of the global economy is going to happen and all these beaten down "meme" stocks will get paid? I'm pretty confident in that. Credit suisse is a 150 year old company. many other big big names are going to follow.
gltu also sir! it is still true from before 2021, if your company isn't going to 0, buy and hold is a decent philosopy.
now I actually think many multi billion and a few trillion dollar leveraged risk companies might go to 0 before UBQU does....
