HOW DID THIS STOCK GO UP THIS PERCENTAGE, ON THIS VOLUME, WITH THIS CAPITALIZATION, IF THERE IS NOT A GREAT DEAL OF ILLEGAL STOCK IN THE FLOAT SOON TO BE CANCELED?
I'm probably the least qualified person to answer this question but I'll take a stab at it.
From what I read, a newsletter went out this past weekend to 1300(?) people touting this stock (I recall Cavalry saying it was his pick that he gave to Big Dog) and, I presume, talking about an imminent short squeeze. There was also a "mention" of it in Jim B's newsletter, Top Dog, which goes out to 2000 or so. On Monday, a bunch of these people figured, hey, sounds plausible and threw some money at it. I can't remember the volume on Monday, but, if just 5% of the 3300 bought just 2K shares, that would be 165 * 2K * 2 = 660K of (total) volume.
If I'm an MM, and I saw such huge buying coming in, I'd take those people to the cleaners.
Just one person's opinion.
- Jeff |
