As I was looking at my screens yesterday, watching LSTE and others drop under the weight of massive selling, I remembered again that a very large number of stocks on the OTCBB are in 2 businesses (or maybe only 1!): they do something in reality (maybe) and they sell stock. These companies often make it so there is very little connection between the two activities.
LSTE is one of these stocks. They sell and sell and sell. And, oh yes, they also do some stuff in the real world, but all their PRs and promises about shareholder value have no effect on their other (maybe their main) business, which is selling stock.
LSTE's drop this time was really amazing to watch. I confess I thought I could beat the sellers and bought some last week. Lost 50% and sold out thank goodness, because I would have lost another 95% by today.
But let's get real: the stock has not dropped because of MM manipulation, or naked shorting or listings on the Berlin exchange. It has dropped because they will sell and sell, then R/S and keep going.
Stocks I would add to this one, to name a few (if I can remember their current symbols): CYBT, PCOR, GAWY, DFRC, NXIA, AFRN, THTHF, INOV(?), AXGR, IVOC (people will argue with me on IVOC), SEIH, ZWLL, WNMI, GFYI, AWBI (formerly IBII) and DRKD.
I keep reminding myself that these stocks are deathtraps. But they are like carnivorous plants: they attract us with the occasional run. The promise of getting rich.
So I am playing it again! But my average is .0004 this time. I still feel like I will lose it all and that the last run, last week, will be the last run before the next R/S.
