OTC tickers always have ridiculous market caps far removed from earnings (realized or projected). Even big boards do as a matter of fact (NFLX has a market cap of over 10 billion with a 56 million O/S). Personally, it doesn’t interest me much to try to put a fair market value on any ticker based on earnings or lack thereof and simply assume that everyone else will come to the same conclusion. Not in this market. I lose every time. Only thing that matters now is market sentiment.
.30 cents PPS will put SOLS at a market cap of about $150 million which is approximately 100 million dollars less than where it is currently. In your opinion, would that target price then place the company at a fair market value? If so, the share price would then need to become overvalued at some point in order for you to profit.
If earnings are non-existent, as you say, then why not shoot for .05c or .01c, taking it just above what a good clean shell goes for?
Nothing trades on logic anymore. Only fear and greed rule the street. I look at a tickers volume and price history, see how the market reacted in the past during busy and quiet periods, see how it’s reacting currently and then buy/sell accordingly.
BKRT market maker was the ax on SOLS all day today, tapping the bid and lowering his offer aggressively squeezing retail out. VERT absorbed most of the .40s but eventually got whacked out in the final stretch. However, BKRT started to move back up on ask just before close.
Anyone can “predict” a lower share price at some point in time when a stock is trending down at then say they were right when the ticker blows past that price point. Now if you were to say that SOLS will bottom at .30 and then bounce, then it would be a good call. However, if the stock does hit .30, then it’s going lower, in my opinion.
Stock is getting oversold now but waiting for it to turn before making a move here.
Best of luck to you!
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