Who's Robert Spiers?
Wonder if he's heard what I heard yesterday about this company? ;-)
I'm not at all surprised that you guys aren't getting filled below the ask. There's only one market maker (Frankel) offering at .27, and I think it's only 5,000 shares. After him, there's nothing but daylight until you get to the next MMs at .31 and .32, and I doubt very much that they have any inventory -- if they sell any, it'll be on a short basis, and they'll look to go on the bid (somewhere between .24 and .27, I'd guess) to buy it back. My broker isn't a MM, but I bought some through him when he made a deal with Paragon, and I have a pretty good feel for how they're all trying to trade this thing -- WHEN it trades. And that's the key -- when a stock is this thin, the MMs don't like to keep any inventory, because they can get stuck holding it for a long time. It ties up their capital. Any kind of demand and this thing will really fly, especially because I think at least one MM is already slightly short and I think the guys at .31 and .32 are about to get that way too. |
