My brokerage doesn’t trade subpenny, though I keep an eye on companies that are subpenny, I never buy subpenny.
I’ve had my AMFE on my watch list (not a short one)since early 2017 when considering it for a cannabis play.
2018 after Sessions remark sucked mad balls for the industry, if it hadn’t been for the upward price movement from Walmart PR, I never would have asked myself, “self, why is this moving all a sudden.”
Then, after checking the price history, I noticed a nice movement about .20 and asked myself “self, how the hell did you not see this movement before?”
I am more cautious now, upgraded watchlist standards and radar will always be stronger than watchlist.
Just for perspective, nothing else, I am currently holding a subpenny position(not AMFE), found out about the company early 2017 searching for a product and when I decided to start a position, it was subpenny in the .009’s so I waited. Got in first at .0101, then the next day .0103 then continued averaging up through about .025. Then started averaging down where I sit at .018.
If I had a .018 breakeven here from 2017, I would be very privately ecstatic with a couple million shares, but that is not the case. I’m currently holding AMFE position since July 2018. Have been averaging down with cash on hand. I am comfortable with my position, will only be entertaining below 7’s to continue averaging down should that ridiculous scenario be relevant.
When I say “sitting pretty with AMFE” I’m referring to the fact that I’m not selling shares to pay the bills, as AMFE is not whacking the bid to pay the bills. Tells me whomever is whacking the bid is not an investor but a trader who thinks the ask will drop low enough to buy in lower than sold to bid, or that seller needs to pay the bills.
Best Wishes!
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