Looks like a lot of penny stocks are taking a hit today - not just Neom. August coming, Mideast War (markets hate uncertainty), Economy hurting, Gas Prices - all factors (among others) hurting the market.
Combination of things. The number one is what is the earnings outlook for the company. When the 10Q is released for the 2nd Quarter we will see how revenues are increasing. If they are increasing substantially that will move the price upward. Additionally, the announcement of major contracts/deals will move the price. That's it.
P.S. Contrary to the posts of one individual. The number of shares AUTHORIZEDhas nothing to do with the current price. It's the ability of the company to execute their plan and bring in revenues that matters. Right now we are in a waiting period for news/earnings.
Nothing is ever exactly the way you'd like. Could be worse. Could be better. But, never exactly the way you'd like it to be. It's all just a temporary situation.
Had I bought at .42 before chartist1's warning, I'd be down 60% as opposed to 48%.
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