Well, if we look at post 9497, Chuca recounts the highlights of the last three months. There are no days as high as 70k, but I see one 50k recently, and others in the high 30s and 40s. I do not know if all 70k today were buys, but even if they were, I do not find it all that significant.
Let's assume that they were all buys. Here is how I see it: Maxam will ether get off the pinks, or go belly up. If it eventually gets off the pinks, the price of its stock will go up a little or a lot, but it will not go down. I also think that in the interim, the price will stay about where it is, and that if it goes lower for any sustained amount of time, it will not be to five cents or two cents, it will be to zero because the company goes bankrupt. So, the question for our investor is, which is more likely--Maxam will get off the pinks and see an increase in share value, or Maxam will run out of time and go belly up? He or she bet seven thousand dollars that at a minimum, the company will make it off the pinks before it dies a cruel death.
The question Dan posed was, "what's going on?" Which to me meant, "is there some news or something going on behind the scenes that I do not know about?" Given the above, I think not, and simply pointed out that while 70,000 shares may seem like a lot, it amounts to about the price of a used Toyota Corolla. Which is a "oh what the hell I'll risk a little cash because I'll probably make a thou or two," not a "I see this stock exploding in the near future, so I am buying hand over fist until it does." That's all.
Best regards, Otter |
