Mary - What I said (not "swore") was that it was my opinion that when eVWAP was cranking 7 figure volumes on a consistent basis, the stock price would do much better. The predicate still has not happened yet (7 figure volumes have been achieved, but not on a consistent basis). I still think the stock price will do much better with consistent 7-figure (and, as I predict we will soon see, 8-figure) volumes because higher eVWAP volumes achieved on a consistent basis translate into (i) more revenue, (ii) profitability, and (iii) a reduced need for additional capital (and thus less dilution). Higher volumes also reflect wider acceptance of the system by users -- and a review the history of other electronic trading systems and how they have built up volume over a period of years demonstrates that liquidity and volume do not magically appear and remain high -- the build-up of volume is gradual, and at the outset of the launch of a new trading system, it is typically erratic -- what we are looking for are signs that usage by a critical group of key players is building and a sense of comfort that consistent volumes sufficient to support long term profitability will continue.
No matter how you spin it, 5.1 Million revenue shares on a Monday is a good thing and reflects pretty clearly that somebody sizable is using the system -- and a 1/32 drop on no news is just not that meaningful, even though the pennies lost are a form of Chinese water torture and build up over time.
As for NMS delisting, we'll see what happens -- it hasn't happened yet, and whether it happens at all is still a matter of conjecture. There is only one fact about today that anybody following Ashton can recite with complete certainty that it is accurate -- there were at least 5.1 Million revenue shares traded today on eVWAP. The rest of what has been stated by supporters and critics alike is pure conjecture.
Not very difficult, eh?
MST |
