Yes, the float is slowly drying up.
That’s exactly why 70,000 shares pushed BKTH to .3329 today. In a 9.7M float with no dilution and no convertible notes, this is what happens when nobody is selling:
small buys move the PPS sharply
the bid keeps stepping up
liquidity stays thin
price discovery happens in jumps, not smooth lines
People keep calling it “silliness,” but it’s not.
It’s thin-float behavior 101.
If you want steady, heavy liquidity every day, you need a bloated float and constant dilution. BKTH is the opposite of that. This trades like a stock where:
long holders aren’t selling
the float is locked
every buy has outsized impact
and real news will cause a vertical move, not a gradual one
So yes the float is drying up.
And until someone actually sells, the PPS will keep ratcheting upward on small volume.
FOMO...its got all the "bitchers" by the gonads!
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