Interesting theory...and I'm always game for a good conspiracy, BUT I think it would take an awful lot of small investors to buy an awful lot of $1 shares to make it worthwhile for even one institution to even think about doing something like that. Probably more small investors than even know about this stock.
Although 3/16 is a big percentage move on a $1 stock (I laugh every time I say it, until I remember what I paid for it), it's hardly anything to get excited about. It's a long way back to 5, 10, or 20. To me 3/16 is just somebody taking a chance that this piece of doo-doo is not going to go under. After all, even you or I could risk, say, $10K to possibly make $50K if it doesn't sink altogether.
Just my opinion.
P.S. - after FINALLY getting a quote from StockSmart, I now see the total volume so far is 567,000...
If all of those were bought at a dollar (which is not true) and by the end of the day it's worth (WOW!) $2 (which I doubt), that institution would have cleared $567,000. Not even worth the effort, when they could have bought any number of good companies (by that, I mean companies that are likely to stay in business) on the dips this morning and made huge point gains (on bigger investments).
This company is just too iffy even at a dollar to think you could make a quick profit. sigh
Sorry for the long post. |
