Our lesson continues to be finding what
are the triggers that knock stocks loose from the MM grip. Even companies showing real revenue are not trading near their book value, ie. ELTK and CGHI. With QBID, they get into the .0023-.0028 range of historical bottoms and seem to run from there regardless of the substance (or lack of substance) of the pr.
What people underestimate is that for MM's to make money shorting a certain stock in the long term, the price of that stock will be ALLOWED to rise at some point in order to set up the painful walkdowns we see. For MM's, the high levels are needed to fan the flames of interest in the stock all the while colluding on what levels short positions can be established and the slow walkdowns to begin again.
IMO, but happens time after time on many plays.
Here, I didn't see many ask where QBID is getting the revenue or financing to even consider bidding for Pride TV. The MLON'ish pr today (well put JB) could answer that question if additional shares are added to the market (dilution) after a spike in the price occurs.
All to be seen. I'm staying sidelined but wish anyone good luck and good trading. Not sure why this pr triggered the MM's to allow this to, but so be it.
GL!
Bo : )
