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Friday, February 02, 2024 11:14:34 AM
I wondered why and now I think I know why the MMs do this.
keep in mind there are like 5000 "pink" OTC penny crap stocks, my bet is 4000 of them have been cellarboxed to nobid.
but I'll be charitable, and lets say 2000 of them are at nobid.
UBQU's shares outstanding is 29 billion. so every move from trip 1 to 000001 changes the market cap by 2.9 million dollars.
but let's say the average nobid pos penny stock has 10B shares outstanding. so a shift of 1 million dollars x 2000 POS cellarboxed penny stocks is 2 billion dollars.
so for less than a penny x 2000 crap stocks, they can manipulate down the market cap of the OTC and the greater indices by 2 billion dolalrs with a flick of the algo, which influences "sentiment" on other memes and helps manipulate prices down.
Very clever, Kenny, very clever
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