There has been no "massive sell", and in fact, volume has been lower than many of the more recent previous days, despite the large amount of shares which became unrestricted today. That means many of these shareholders are holding out long for the real payday, as Bill has also suggested would be the case.
These ups and downs on relatively low volume could reflect what I posted up here last night due to lack of tradeable shares in the float:
Very interesting FITX discussion going on in the FB Greenrush traders group which I have cut and pasted below:
Markos Artemidors"The Green Rush Trading Group"
FITX open market shares for the first time fell below 40 million. A complex OMT squeeze is occurring, MM will have a hard time between the 3 house exchanges.
Mike Mallder
Can you dumb that down for me?
Micheal P O'Brien
Plz
Markos Artemidors
If a stock doesn't trade for more than 5 business days it's considered off the market (OTM). In other words, it's a long term hold. Flippers/Day Traders don't hold. Market Makers can only sell the shares that are in the open market between the exchange houses. As investors hoard shares less and less shares are available therefore a major spike is forthcoming. On average, due to the large float 2.6B, FITX had over 200 million OMT. Currently it's sitting under 40 million OMT.
Jacob Miller
So what's the resulting environment looking like ?
Markos Artemidors
OMT = Open Market Trades
OTM = Off The Market
Harold Keeling
Mark ....break all that down for us in kids English ...
Mike Mallder
Thanks Markos, I had a feeling that's what that meant but I wanted to be sure.
Travis Dufrene
Less Supply + More Demand = higher pps
Harold Keeling
Wow ...sounds enormous ! .... shares should be priced higher and heading into the license stage this is very good news !!!
Bob Donegan
It means we see a huge jump in price soon !
Jacob Miller
Now the question is do we sell off like many will at a 52 week high an pick up again when it drops back to .08's
Mike Mallder
How do shares come off of the float? Does fitx issue them or do the MM's take them?
Harold Keeling
That's not my question Jacob .... Im selling at 3 dollars ...It doesn't matter if it takes 5 years ...I should put my sell order in right now !
Jacob Miller
Lol that's fine too I'm 85 % long . I just want to grow a empire and eventually buy a couple countries an name them after myself before I'm 30 haha
Markos Artemidors
Mike, float is what's in the open market to include you, me, insiders, mutual funds (n/a), institutional (n/a), restricted shares & unrestricted shares. In the company's safe to say, there's approximately 1 billion shares. Now let's say FITX buys a company they go to their banked shares increasing the float. FITX can't pass 3.5B without a proxy vote by shareholders to authorize an increase in outstanding shares. I try to make as simple as I can.
These ups and downs on relatively low volume could reflect what I posted up here last night due to lack of tradeable shares in the float:
Very interesting FITX discussion going on in the FB Greenrush traders group which I have cut and pasted below:
Markos Artemidors"The Green Rush Trading Group"
FITX open market shares for the first time fell below 40 million. A complex OMT squeeze is occurring, MM will have a hard time between the 3 house exchanges.
Mike Mallder
Can you dumb that down for me?
Micheal P O'Brien
Plz
Markos Artemidors
If a stock doesn't trade for more than 5 business days it's considered off the market (OTM). In other words, it's a long term hold. Flippers/Day Traders don't hold. Market Makers can only sell the shares that are in the open market between the exchange houses. As investors hoard shares less and less shares are available therefore a major spike is forthcoming. On average, due to the large float 2.6B, FITX had over 200 million OMT. Currently it's sitting under 40 million OMT.
Jacob Miller
So what's the resulting environment looking like ?
Markos Artemidors
OMT = Open Market Trades
OTM = Off The Market
Harold Keeling
Mark ....break all that down for us in kids English ...
Mike Mallder
Thanks Markos, I had a feeling that's what that meant but I wanted to be sure.
Travis Dufrene
Less Supply + More Demand = higher pps
Harold Keeling
Wow ...sounds enormous ! .... shares should be priced higher and heading into the license stage this is very good news !!!
Bob Donegan
It means we see a huge jump in price soon !
Jacob Miller
Now the question is do we sell off like many will at a 52 week high an pick up again when it drops back to .08's
Mike Mallder
How do shares come off of the float? Does fitx issue them or do the MM's take them?
Harold Keeling
That's not my question Jacob .... Im selling at 3 dollars ...It doesn't matter if it takes 5 years ...I should put my sell order in right now !
Jacob Miller
Lol that's fine too I'm 85 % long . I just want to grow a empire and eventually buy a couple countries an name them after myself before I'm 30 haha
Markos Artemidors
Mike, float is what's in the open market to include you, me, insiders, mutual funds (n/a), institutional (n/a), restricted shares & unrestricted shares. In the company's safe to say, there's approximately 1 billion shares. Now let's say FITX buys a company they go to their banked shares increasing the float. FITX can't pass 3.5B without a proxy vote by shareholders to authorize an increase in outstanding shares. I try to make as simple as I can.
