Why is volume LOW? because as described in Ben Graham's Book The Intelligent Investor (Warren Buffet's favorite investing book) see xiii there seems to be some lack of awareness that
"a stock is not just a ticker symbol or electronic blip; it is an ownership interest in an actual business, with underlying value that does not depend on its share price."
Volume in IME is LOW because pure speculators, flippers, daytraders etc. are staying away from BUNM mostly. They tend to get attracted to the many pennies with great PPS volatility and no fundamentals underpinning. Our fundamental value here tends to keep the volume relatively low. Moreover I would characterize BUNM as along term value issue over a more-common speculative type of play. Rather unusual for the penny world actually!
BUNM is moving according to its 2008 business plan and is an actual business. VALUE is not and cannot be ascertained by share price if you believe Ben Graham's core principles. Many holders or pumpers for that matter claim they are 'undervalued' but BUNM is an issue that you can make a strong argument that is undervalued. I believe that those who seriously research BUNM will be satisfied that this is the case and buy accordingly.
Graham's core principles also touch upon another item here that depresses volume--the tendency for many only wanting to buy at .0001 over .0002 or .0003 etc.
"The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from the pessimists."
IME there is a degree of that 'unjustified pessimism' here and so price and volume are depressed. People start wondering what is wrong with BUNM, management etc. Short of management doing a buyback or buying the whole float tomorrow they effectively don't have that much pull over PPS. Buyers, sellers and MMs have more day-to-day control in actuality.
We need to get through .0001s and maybe .0002s to weed out a number of pessimists and get a great level of enthusiasm for the things that are going right with BUNM. Those who have vision can see the extraordinary opportunity that is GROWING before our eyes. Like the CEO we aren't tossed to and fro by the PPS.
Finally this final idea is gross speculation but could CEO be unconcerned with PPS or is it that BUNM's financials are growing so substantially + that CEO wants to keep PPS artificially low in order to have an option to buy-back shares for pennies rather than dollars.
For the record I am no fan of CEOs who get eccentrically and emotionally over-involved with the daily PPS fluctuations or who are constantly feeding information 'off the record' to the rank and file. If it bears mention then we get it through official channels.
I believe one ought to look mostly here at how the actual business is performing and based on posts here I would have to say the consensus is 'very well.'
We will just have to see if potential buy-out suitors with deep pockets have taken sufficient notice.
A final quote from Graham's book.
"The secret to your financial success is inside yourself. If you become a critical thinker who takes no Wall Street 'fact' on faith, and you invest with patient confidence, you can take steady advantage of even the worst bear markets.
By developing your discipline and courage, you can refuse to let other people's mood swings govern your financial destiny. In the end, HOW YOUR INVESTMENTS BEHAVE IS MUCH LESS IMPORTANT THAN HOW YOU BEHAVE."
THE END of this post. Thank you Mr. Graham for your contributions
