Attention everyone - Please READ!!!
I know this is long, but I sent this to another investor today in a PM and figured I might as well share it with EVERYONE!!
Here it goes:
Today was not worrisome at all for me! To be honest, I thought we would drop lower (I'm surprised there were any buys today - I thought more people would be waiting).
Here's how stuff like this happens: On Friday Clarke and Co would file the ticker change (sending the FINRA financials and all of the necessary paperwork/filings). The FINRA then goes over everything and starts the process for the ticker change - but think of it like waiting in line for a rollercoaster... the other companies who got there first get first priority... So basically, we are in a queue waiting for everything to happen. It could have been today, could be tomorrow, could be next week, etc. It's completely out of Clarkes hands and up to the FINRA now... and they aren't exactly known for being speedy (think of the DMV for comparison). They get to it when they get to it - unfortunately.
What happened today is that people started to get panicked because they thought everything was suppose to happen TODAY (which isn't the case at all). Looking at Level 2 and then reading about how people are panicking is hilarious... Only 20k shares sold today... That's like 1 persons position (who may not even be a part of the iHub and has no idea what's going on). We averaged more sells than that almost every day last week... Today we just didn't have the same buying volume as last week (for obvious reasons - people are waiting), thus, the slight price dip.
In regards to why more people aren't jumping in... Easy: A) they are waiting - gotta remember this is a penny stock.. They are waiting for audited financials (which come around the same time as ticker change) and will jump in after that. B) The ticker change itself helps drive the price up because that means that the company had to pass screening from the FINRA and that they are legit and not a scam. C) As much as people are saying "Lot's of eyes watching" - there aren't as many as people think -- Yet!!! What's going to happen is once the ticker change happens either an investor, the company, or both will start a paid or unpaid promo -- that's what really ignites the fire and then we get LOTS OF EYES ON US. Then at that point we have a new ticker symbol, a new company name, multiple new PR's (pictures, videos, etc.), audited financials AND promos to spread the news... That's when we go $1+++
So hang tight and watch and see - One day (or even a week or so like this) is NOTHING to worry about :)
Best,
MJC
$DNYS
AI
