Monday, May 28, 2012 11:40:21 AM
There are a lot of theories out there as to why this stock made such a dramatic decline after its run-up past 2 cents...this is just my opinion.
Profit taking by retail is obviously one of the reasons...as you say...and rightly so...after such gains by many that bought in the 00s & even 000s.
But...at some point it should've stopped...but it didn't until it hit mid 003s...now that's a helluva' haircut for a company that isn't diluting & is not a P&D!
There was still a heavy seller (using NITE) that continued dumping shares...all the way down to mid 003s.
Question is...why...& for what reason. Were they not able to sell enough during the run up??? Did they just have so many shares they couldn't???
Personally...I think MM was probably out by then...& retail had sold off what they wanted...and those two would account for tons of shares...so why did it continue to drop?...who was left to sell? I believe volume was quite moderate during those times.
I have a very good friend that's worked in the equity markets for many years...and his observation to me: was that it looked like there was a seller with a ton of shares...selling from offshore thru NITE...and it's possibly from a previous note conversion. Now...Jeff has confirmed that all debt had been converted... which is someting he's privy to thru the T/A. But...there is no way for him to know when or if these converted shares have been sold. This is just one theory as to how someone could have that many shares in their possession...what was their agenda...who knows...take it for what it is...cause' wtfdik.
Happy Memorial Day...remember our fallen heroes.
FEATURED Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM