For sure little dirty games are played behind the scenes on the OTC and the Nasdaq.
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Looking at the trading logs, I added up the large sells, 300 k or higher, and over the 3 days it was about 25 million.
now, you mentioned dillution....
If it was restricted stock, coming into the float (perhaps shares were issued to the video phone people last Spring or earlier, before Pan am was involved, if that was the case, they could have been issued in December 97)
If you recall, the origional merger fell through with Anthony Chinotti, and PRWT because they both lacked the funds to make the merger possible.
That is how Panamerican came into the picture.
So let us assume that Chinotti sold his shares...No big deal then..
If I was flat broke, and I could sell $170,000 worth of stock, I guess I would.
Of course, We have no Idea how many share those people had.
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Here is what bothers me....
If it was an insider selling his/her stake....with 25 million shares put up for sale (remember, Market Makers have level 4 and can see all of the pending buys and sells)
Why would they only drop the bid to .015
If you or I put up a sell, just for 1 million shares, they would eat our lunch.
Tak a look at the beginning of the thread, where someone held 1.2 million shares, and paniced, and put in a market order to sell.
They robbed him blind.
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I believe one of two scenarios took place.
#1 a large shareholder went to Myerson, and said, get these shares sold. (possible a share holder from pre Pan AM days)
#2 Myerson is shorting from 2.2 cents which would make them, or the people they represent people with bigger brass kahunas than me
I would never ever short anything at 2 cents.
I know a guy a couple of weeks ago that was shorting Amazon.com quite a bit in the 6 figure range (No names) and he had continual diarhea from 9:30 to 4:00 those days. Even his SUMO BROKER (HA GOT YOU, I KNOW YOU READ MY POSTS MY LITTLE ORIENTAL ORDER TAKER) SAID HE WAS NUTS.
and that was in the $140 to $225 range.
Something was/is up, but I really doubt it has much to do with the value of the stock or the circumstances of the company.
My thoughts, what the cockroach do I know? |
