Posted On: 09/27/2016 1:44:38 PM
Post# of 43065
Yahoo 'Historical Data' for PTOI only goes back to 2010, probably because of some glitch...but there wasn't too much volume before that. Going back as far as possible and extrapolating, around 200M shares of PTOI have traded have in total since PTOI was public. Presumably most of the shares from the company, including the founder's shares, made it out to retail through the market so that would about 125M shares (out of the 200M) traded that way.
So even if no investor ever sold a share and if every share ever sold was a naked short sale (and all were hidden from FINRA), those "tens of millions" of shares could be at most 75M...and that means that the supposed manipulative wash selling had to be minimal.
It's possible that all the PIPE investors decided to hold and rode their shares down to $0.05 so that would increase the number of potential naked short sales...but it still seems unlikely.
Since PTOI traded about 1.5x the outstanding shares in total over the past 7 years...I will agree that a lot of shareholders really do hold and never sell. But I suspect at least a few people traded in and out of the stock or sold altogether. I don't think naked short selling constitutes much of the selling.
Golfgod: "Do you and your co-workers refer to your employer as "Shorty" ?"
Golfgod, I'm out of posts but I want to make it clear that we don't call our employer names--we address your mother very respectfully whenever she solicits us.
So even if no investor ever sold a share and if every share ever sold was a naked short sale (and all were hidden from FINRA), those "tens of millions" of shares could be at most 75M...and that means that the supposed manipulative wash selling had to be minimal.
It's possible that all the PIPE investors decided to hold and rode their shares down to $0.05 so that would increase the number of potential naked short sales...but it still seems unlikely.
Since PTOI traded about 1.5x the outstanding shares in total over the past 7 years...I will agree that a lot of shareholders really do hold and never sell. But I suspect at least a few people traded in and out of the stock or sold altogether. I don't think naked short selling constitutes much of the selling.
Golfgod: "Do you and your co-workers refer to your employer as "Shorty" ?"
Golfgod, I'm out of posts but I want to make it clear that we don't call our employer names--we address your mother very respectfully whenever she solicits us.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
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