thank you for the summary 2biz. I've about decided that the immediate raising of the bid is a computer algorithm that mms have in place - there is no way a retailer is doing that because it is instantaneous. Whether this is done always or not I don't know - maybe all stocks with large percentage spreads do it, but while I have seen it before it seems to be much more aggressive on AFOM. This makes me wonder if there is a big seller out that that mms are trying to get as much commission on as possible by 'encouraging' a raised bid from the buyers. Either the mms themselves own those shares - perhaps they loaded up when the price was low and are now unloading - or the seller has stipulated a certain price to sell at. Converters that sell can completely crush a share price if they just say 'sell into market demand' so the converter may be smarter than many who just sell since they are virtually guaranteed a huge gain on the discount given in the original terms anyway.
With all the uncertainty I'm not chasing this nor am I tempted much at this price still. Stocks that go up 600% usually have a major pullback and we have begun to see that. Combined with a large sell block (maybe?) - the stock is vulnerable to slipping back down to the low pennies again. Countering this is any developments with getting the movie closer to distribution.
I do think the movie will come to market in some form so there is hope, but still plenty of unanswered questions at this point both with the movie and the stock supply-demand situation.
It's like navigating a mine-field.
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