1. A pink sheet stock is one that has been delisted and because of delisting, the trading volume usually goes down. Therefore, the brokerage companies don't track the bid and ask as accurately as they would an OTC or NYSE stock. That's why some brokerage companies still show the bid and ask at 1/16 by 3/32, which was the bid and ask when the stock was delisted.
2. An MM is a market maker. He is the one who sets the bid and ask and is also the one responsible for moving it up and down due to buy and sell pressures. It is entirely possible that the MM is keeping this stock from moving, but I'm not sure why.
3. As far as the 700 being a sell, and the 1000 being a buy, I really cant explain that one. I don't have a way of tracking buys vs sells on pink sheets so I can neither confirm nor deny which trade was a buy and which was a sell.
4. I suppose that the approval is good news, but the bulk of the news merely confirmed information that was researched by posters to this and the Yahoo message board. However, getting approval, and setting back the close date seem to negate each other (one being positive, and the other being negative). However, to someone who hasn't really researched the details, this release could be all good news.
5. Finally, as I mentioned in my last post, the bid and ask of .01 and .04 was confirmed at 3:05, perhaps the MM had it higher earlier on, I really don't know.
Dude |
