My theory from a few weeks ago (although I haven't been paying attention for about a week):
Sent By: lil_mini_ditka Date: 2/3/2005 5:53:40 PM
I am speculating that the pre-RS holders woke up the day the RS went into effect and sold shares totalling pre-RS amounts (i.e. their accounts did not show split-adjusted shares). This would make the pre-RS holders who sold short, not the MMs.
There were 31M traded on the way down from .10 to .001 the day the rs went into effect. The price could have dropped so rapidly b/c there was a HUGE supply of shares of a 5M a/s stock. This could explain how the stock downticked from the opening print of .1 to .015 in one trade. Most of these early morning trades resulted in or followed downticks, so I am guessing they were sales.
So what I am suggesting is that the share price was rapidly driven down by sales of shares (by shareholders, not MMs) that did not exist. I am further hoping that the pps returns to the post-rs opening price of .07. I will be more than happy with 1/2 of that. Tomorrow will be interesting.
I don't think MMs are short. My first trade filled in about 30 seconds. If MMs were naked short and scrambling to cover, they wouldn't have given me these shares so willingly.
Very confusing shit. I think someone is going to out some serious coin.
"My name is dashiki. That's swahili for doggystyle."
