I don't think it is 95%. I don't know that there are many who didn't average down that held through this reverse split.
I estimate 3-5 billion shares(double the OS) were traded under .001 which is the equivalent of $4 most likely the majority of those traded under .0005. There was probably near a billion shares(half the OS) traded(bought/sold) at .0001 which is the equivalent of .40.
So while there are some who have an average of $15 or higher. I believe there are many more who have much lower averages than that. Also new investors who might invest here don't have an average yet at all.
Just because there exists those with high averages doesn't mean there isn't money to be made. Heck the SP has been under .40 since the reverse split and at least 150,000 to 200,000 shares(~1/3 of the OS) have traded since then. OS.
So there are a lot of people I feel with lower averages than you think.
If they continue to execute to what they have PR'd by getting rid of convertible debt cutting costs and filing financials on time, this could take off very quickly.
Hell less than $1200 moved it nearly 200% today.
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