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Sunday, May 07, 2023 8:28:32 AM
<<<<<<< First off there are no Market Makers for this stock. The original MM when the stock went public, which under the rules of that time, were the ONLY people ho could make a market in the stock for 30 days, as reward for filing the 15c2-11. Since then, nearly 19 years there has been NONE. >>>>>>>
"there are no Market Makers for this stock", This Not a True Statement.
All OTC companies have Market Makers. Retail investors don't trade directly with other investors they Sell to MMs and Buy from MMs, this creates market liquidity. This enables a quick execution time for trades. Imagine what would happen to the trading process if each Buy had to be matched with another investor who wanted to Sell the same amount of shares.
When a company wants to trade on the OTC Markets they need a MM to sponsor their entry to the OTC Markets. This involves filing a form with FINRA. The sponsoring MM has a 30 exclusive on handling trades for this new company. After 30 days other MMs can trade the new company with no repeating of the initial FINRA filing.
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