There hasn't been nearly enough volume to give MM's reason or justification to raise pps. There are hardly any buyers at .0003.
I'm sure that there are more buy orders at .0002 then .0003 right now. Raising it to.0004 or .0005 would pointless. Additionally, I would imagine that there are plenty of investors that have sell orders in at .0003 and .0004. I'm willing to bet that over half the investors in this company want out. Most sub penny stock investors never like to hold. That simple. Raising the pps a tick or two right now would create a massive sell off.
MM's have access to Level 3's. They can see all of the orders that are being placed. Right now,what they are seeing is telling them to keep the pps right where it is. They can see what investors want to do. When the investor decides to let this go up, the MM's will take it up. Also keep in mind, that even though 10-40 million in volume seems to be a lot, that's only 3 to 12 thousand dollars being traded. A quick uptick of 12 million like we saw earlier at .0002 or.0003, I don't recall what it went for, is only between 2400-3600$. Not nearly enough to justify a 33% increase in pps which is what one tick right now would be.
It will take a bare minimum of 80 million to kick start a pps increase. At least 250 million to get it back to .0004 bid or .0005 ask. Then it has to sustain itself, in which the penny flippers will do their best to not let that happen. With that said, we would need over 500 million volume to sustain the pps as the profit takers step in. It'll take more then a couple pieces of good news to do that. Right now, the Conference in November is the only entity that can do that, or perhaps some amazing restructuring deal being announced.
Until then this will remain in it's current range. Don't get me wrong, I do believe that MM's manipulate a ton of penny stocks. I don't trust them at all. But as a realist, I just don't see the MM's doing anything crazy right now with this one.
AI
