Sorry, I missed that last down tick. And in pinky land huge swings are common. But the problem is; what good is your pink sheet stock going up 100% in a day when only 500,000 shares traded hands at wide spreads between bid and ask and you have several million shares you'd like to unload and get that price on? It would never happen as your selling just a small portion of your holdings would create enough selling pressure on the thinly traded stock to wipe out that 100% gain.
That's the problem with the pinks. The wide spreads between bid and ask make it very difficult to sell or buy at a good price without being taken to the cleaners by the MMs.
For example, say the stock opens the day at $0.0012 and the current price is up 100% or at $0.0024. It would be very difficult to get that price if you wanted to sell because the best bid could very likely be only $0.0012. In other words the bid/ask could be .0012/.0024. Wide spreads like that are very common when trading on the pinks because there is no liquidity (or very little). You also get raped like that if you want to buy on big dips, because most orders in pinky land won't fill unless you hit the ask and very often the ask is at a huge premium to the current bid.
Trust me, if you have your choice between your stock trading on the OTCBB or Pink Sheets, you do not want Pink Sheets.
AI
