Kidd is pretty much a known scam artist with his previous dealings. Maybe he feels JBI is one too?
Whole lotta supply (countdown)
Estimated Prophet Today at 10:49 am
IMO, the distributor of all this supply has to either be the dumbest distributor ever or there is actually a competition among a two or more distributors. Why they don't lift the ask more when thousands of shares hit them, I don't know? It would seem they could so much more for their shares. Maybe if you have that many, you are just happy to see someone taking it off your hands?
I believe most of the selling is from the 2.5 million shares Thomas Kidd received for Javaco and the media credits(sigh). I believe it is him due to the very aggressive selling on the ask. If this was more PIPE driven, I think it would act differently. I think you would see more bid whacking. Instead, it's just an ask that won't budge much. So, for fun, and I may be way off, I'm going to start a countdown of POSSIBLE shares to go to get free of all the supply overhang. I'm going to give 75 percent of all volume going to knock Kidd's shares out, and assume that he sells all but 100k shares(he might as well keep a little, just in case).
Since the 1Q finally was issued, the seller has been here very aggressively. I'll start the countdown from there(July 19 start).
Week 1=617,300 shares traded
Week 2=467,000
Week 3=242,700(couldn't get exact volume for the 6th, so going by eye of 75k)
Week 4=457,100
Week 5=145,377(day 1 in progress)
Total=1,929,477 Taking 75% of this as Kidd=1,447,107
952,892 shares to POSSIBLY clear before aggressive, out of normal trading supply is out.
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Estimated Prophet
Post n°2
Re: A Whole lotta supply (countdown)
Estimated Prophet Today at 10:59 am
Technically, .83/.84 area is a very tough resistance point. I would be quite surprised to see a bid hold at that level or higher until the supply is burned through.
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Post n°3
Re: A Whole lotta supply (countdown)
dipinvestor Today at 11:56 am
What a fool this Kidd guy is. Why sell?!?!?! I'll buy his shares at $2.00...anyone have is phone number?
Post n°4
Re: A Whole lotta supply (countdown)
Estimated Prophet Today at 12:03 pm
dipinvestor wrote:
What a fool this Kidd guy is. Why sell?!?!?! I'll buy his shares at $2.00...anyone have is phone number?
Kidd is pretty much a known scam artist with his previous dealings. Maybe he feels JBI is one too? Maybe he needs money so bad, he has to get out as quick as possible.
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To know the truth, one must get rid of knowledge, as nothing is more powerful and creative than emptiness.
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