8000 Incorporated (EIGH)

[overachiever]

I'm guessing today will be pretty bad as folks try to unwind before the weekend. Monday will be 1 week past the date the dividend was supposed to be announced and 4 days from its theoretical payment date.

Meanwhile, with all the supposed naked short positions being revealed, the price keeps dropping on relatively low (relative to the run up in Sept) volume.

I expect a retrace to 12 cents pretty quickly after the dividend is paid (the price right before the Monk's Den acquisition was announced and the volume spike), then a retreat back to 4-5 cents and probably lower as those who bought on momentum, speculation or the dividend try to salvage whatever they can.

During the 12 trading days the stock was between 28 and 44 cents, about 12 million shares were traded. Even accounting for quick flips, that's a lot of positions for a stock that prior to a year ago had many 0 trade days.

It is impossible to flip when big sellers like the ones that are trying to dump their positions here are on the loose. It is very obvious that a couple of this company's largest shareholders are trying their best to cash-in in an orderly fashion. The problem they have is that very few people want to buy in to this scam anymore.

Where is the divi this company promised would be changed on the 4th? Oops. Its not there. EIGH was LYING There will be no cash divi of 10 cents paid to shareholders on the 15th of October.

Welcome to penny stock scam land. Not only has this company revealed the float here is twice as big as shareholders thought it was, but now the smart ones can see that they will not be getting a large divi. This one appears to be well on its way back to the basement.