I picked up some shares after the 101 appeal was affirmed. I saw the possibility of some value at the price point of .01-.025. Since WDDD owned some MRMD and RLBD, it was unlikely the share price would drop below that. I thought that was worth the very minimal risk based on those assets.
I never said Thom was dumping shares and buying back at a lower price. I'm fairly certain Thom has all the shares he needs. In my opinion, insiders, who were investors here, likely bought up the cheap shares, after the CAFC affirmation, as they likely were in the know about a plan B. I also believe some of the large shareholders dumped shares when it spiked, after the PR, knowing that it would bleed off and they could always jump back in at a later date. Or perhaps they just keep the cheap shares they bought after the CAFC decision crushed the price and they sold the shares they had held long-term waiting on the Court decision, thereby mitigating most of their losses. Assuming they were insiders, they got in early and bought WDDD years ago, when it was really low.
If most were holding their shares, this would have spiked a lot higher. There was quite a bit of selling going on (as you said 10 million shares were sold) when it spiked. A lot of folks got caught up in the hype and enthusiasm and bought at those levels. Now it is bleeding back down (as predicted), until the next catalyst. Some had hopes it would keep rising.
Hopefully, something big develops here. In my opinion, market conditions are not exactly ideal for launching an upstart or expanding into a new space, both of which take time and money. We are in a climate of rising interest rates and rampant inflation. However, Thom is a savvy and experienced businessman. Maybe he transitions WDDD into a profitable venture.
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