Thursday, December 22, 2011 9:02:47 PM
That is an excellent point OutermostSoup. Only two reasons: up-listing or to avoid de-listing. Even in severe reverse splits used for up-listing such as a 200:1 split to get on the American Exchange, the stock would need to get to .01-.03 cents first to be able to reach that target and then hold or better the price for a few months. At this point in time or for the foreseeable future, I can’t think of any logic for CGFIA to do this.
I have seen at least one stock pop with less significant news releases, resources, and a similar share structure that has popped significantly when 100-200 million shares are traded. Even with the current A/S and O/S it seems very unusual that with the recent number of 200+ million share volume days that this is still at such a low price and has had no pop or significant movement upwards. Some may argue that it would just drop back down without production or a 43-101, but that doesn’t answer why there hasn’t been some type of pop. Most manipulated stocks would at least do that. As stated many times already today, manipulation appears to be the answer, but not like any I have ever seen before. At this price level, this is pocket change for the MMs. Why would they do this unless the same thing is being done across hundreds of penny stocks at the same time via high frequency, high volume, algorithmic trading. An interesting situation we find ourselves in.
Holding and waiting as well.
Akula
I have seen at least one stock pop with less significant news releases, resources, and a similar share structure that has popped significantly when 100-200 million shares are traded. Even with the current A/S and O/S it seems very unusual that with the recent number of 200+ million share volume days that this is still at such a low price and has had no pop or significant movement upwards. Some may argue that it would just drop back down without production or a 43-101, but that doesn’t answer why there hasn’t been some type of pop. Most manipulated stocks would at least do that. As stated many times already today, manipulation appears to be the answer, but not like any I have ever seen before. At this price level, this is pocket change for the MMs. Why would they do this unless the same thing is being done across hundreds of penny stocks at the same time via high frequency, high volume, algorithmic trading. An interesting situation we find ourselves in.
Holding and waiting as well.
Akula
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