It's primarily the regulators fault though, it's just the way it is now, they suspend all the decent promos, and have fined the clearing firms to the point where they have made it too difficult, and too expensive, to get shares deposited anymore...this also causes a rise in the starting price.
All those high dollar promos, or "Tier 1" type promos(a term coined by ALiVE) provided much needed liquidity in the new issues, where now there is none.
IMO those actually provided a safer and longer opportunity for investors to make money, than the usual one or two day Twitter and iHub group pop and drops. There's a few of those every week, they may not get the $$$ volume of those $1M+ promos, but I guarantee overall they produce far more bagholders than the Tier 1 promos ever did.
The SEC suspensions created the majority of bagholders in Tier 1 promos....lol....had they been allowed to continue trading people would have made money in most case, either in the original rise in pps, or playing the subsequent pull backs over the course of the promo.
Yeah you nailed it. Though I think the amount of patience one has is proportional to the amount of capital they have. If you're someone who's living from paycheck to paycheck - and I gotta imagine that the OTC community is mostly made up of people like this - then you cannot afford to just have your money do nothing for long stretches of time. That in itself is totally understandable because if you have bills due or whatever the case then you want to be in something that could produce eggs right now and not a year from now.
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