I agree with the general consensus:
Players are gone. Either because volume is down, or volume is down because players are gone: chicken/egg, I don't care, they're gone.
Only longs left with a few players trying to get whatever they can (but are subject to short squeeze risk at this point).
Where I disagree:
Without volume, yet a huge float, we definitely have short term downside potential. If .11 breaks, its going down further, however there are very strong fundamentals holding .11 (3M revenue * 4 quarters * 5 or 6 (valuation multiplier) puts us solidly between .10 and .12.
I don't expect any upward movement for a few months (maybe a few cents +/-). I expect flat/sideways because the next big news will be Audit In Feb or Mar. Audit Complete is not a milestone, reporting a successful audit is the milestone.
I think if a great Q4 is released before the audit, it will be tempered. If a great Q4 is released after audit we'll see action.
Now the next issue is uplisting. Any ideas on how long it takes to negotiate and process? We all know its after audit, but the question is how these things line up.
Best case scenario IMO: Audit, then uplisting, then strong Q4. Will generate a ton of news and hype and attention from bigger instructional investors (but not the biggest yet). If we can get on the Russell 2000, that would be huge too.
Worst case scenario: fail audit
Next to worst: mediocre Q4.
Barring any real huge news (CanChew won't be huge, it'll be marginal), I expect staleness until late January/Early February when the hype around Q4 will begin.
I expect them to take time with the audit and not post immediately: I think we could see Audit and Q4/annual posted at the same time.
Maybe negotiations on uplisting are in progress and uplisting occurs on the same day too.
One small wave will barely move a boat, multiple small waves, timed just right can cause a rogue wave that can flip a boat end over end. My bet is that they would like to time their waves for maximum impact.
That would mean we're going to be seeing negative or stale movement for some time. Expect negative as people sell then hope it drops to rebuy to improve position, that's the only game right now.
