Sunday, November 22, 2009 11:49:19 AM
Now add is a clever CEO, a company (even if it's in a garage with no money) claiming to be in a hot sector, toos in lots of fluff PRs and an uneducated (about pinkland and SEC/FINRA rules) public all wanting to be rich and you got a money making machine for the company. Happens every day.
Here's a typical example. Joe Blow sees a company trading at 10 cents and pulls up a chart. He see that within one year, it's low was 0001. BINGO, JACKPOT. He just plays all these 0001 hoping one will hit. After all, he just found one at 10 cents that was 0001.
What he does not know is to find out the share structure at 0001 and how it changed up to 10 cents. Almost 100% of the time the shareholders in at 0001 with a massive float are reversed out. Share structure is the key.
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