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Microcap & Penny Stocks : ADOT - BIOMODA: Profitable Technology with Purpose
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To: walleye who wrote (1241)7/8/1998 6:19:00 AM
From: american dreamer  Read Replies (1) of 4650
 
I think I understand why all the volume and no upward movement. In 1997 the company first sold 1.4 million shares as $.14 and in December they sold another 4.9 million at $.16. Although it doesn't say, my guess is it was done on a 504 since it raised under $1 Million. Regardless, the volume on the stock began in February and the downward trend, although slight, began. That corresponds with a significant increase in "negative volume" for you chartists. So with a possible overhang of over 6 million shares under $.16, I would imagine you will have to wait a considerable amount of time to see this stock achieve significantly higher levels without a lot more volume or unless the investors change their current strategy of liquidating into volume created. Just my observations as a non-shareholder but one who is very familiar with the inner workings of micro cap companies and the market.
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