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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: Patricia Smith who wrote (3641)6/22/1999 11:40:00 AM
From: Dilution  Read Replies (1) of 5541
 
I don't necessarily agree. The average volume over the past month (5-21 to 6-21) is about 3.8 million shares a day. On the bulletin board it is safe to assume that volume is double counted, if not triple or quadruple counted. But assume just double counted, so that is 1.9 million real shares a day (triple or more counted drops the number even more.) Assume the average price is around 5 cents. That is only $95,000 a day in trading (1.9M shares X 5 cents). $95,000 in stock value trading a day is not institutional or otherwise, that is pure retail with maybe a little speculating on one side or the other by the market makers. However, I sense unsophisticated retail that is either puking their guts out, or day trading. Nothing more, nothing less. All that stock that was placed in privates last year has been flushed out long ago. That fast money is gone with a profit. Those that were left holding the bag are now sloshing around a few shares worth roughly $95,000 a day wondering where was I, where am I, and what time is it? I have seen this so many times before where fundamentally a company is sound, the business is about to show some great results, yet someone got in there and screwed up the financial structure to the detriment of existing shareholders. Existing shareholders have a hard time seeing the light because they have too much baggage piled on top of their heads. As it is said: sometimes it is darkest just before the dawn.

-Dilution
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