Yes, not much selling but not much buying either. Very low volume with only about 1% of the float trading hands (allegedly), yet the PPS fluctuating wildly and the market cap taken down 12% to just a few ticks over par value for the stock and right about at the average cost basis for Ironridge as far as we can tell. About 43% short volume versus total volume today, business as usual. RFMK has to be the most massively shorted PK stock I have ever witnessed. The massive short selling continues and there seemingly is no end in sight. Every single day this stock is getting shorted to a gigantic degree for as many months as I cared to look. There was recently a very brief period of time wherein the daily short transaction volume fell down to about 10% but it only lasted a day or two and then went right back up to 35% to 45% shorting. For many months CBIS had very little short sale volume, stable at about 10% but just recently it too has risen up to about the same as RFMK today, near 43%, as volume has fallen in both stocks. Same story for HEMP.
I am not really sure what these market participants are thinking taking on so much risk down here a few ticks away from par value and triple zero ranges, all in a low volume environment. A 100% rise in the stock would see the stock back at the 200 day moving average. The stock is extremely thin and volatile so focusing on percentage price changes is meaningless, IMO. Seeing that a double in the stock from current levels puts it back at the 200 day moving average somewhat shows how ridiculous the notion is that skillful PK traders do well to only take their 30% or 40% gains or whatever the statements are, and no more, because a trader pressing for larger gains is just gambling. Well, actually, first of all it would not take much actual money trading hands to see this stock up 100%, and secondly, what is gambling is throwing a traders full powder into a trade at a few very close price levels and just playing the random PK fluctuations for a day or two and attempting to capture a 30%+ move. It can easily go the other way and then what? Just a few days like today of 12%+ losses and the trader is to cut and run? Is that the strategy? I assure all the quick draw traders out there, it does not take much common sense to realize that such a flipping strategy in such a thin volatile stock is extremely risky and leave the flipper with nothing, especially if one considers the trader pulling the trigger on several of these kinds of trades with realized losses, trade after trade; the losing streaks can add up pretty quick. The individuals (or groups) pushing this kind of strategy are the same folks who will tell you that 99.99% of all pink sheets stocks are scams and that "...you gotta play the pumps and dumps...", which suggests that all the while knowing or thinking they know the stock is a scam, they suggest to nevertheless get in and play it for a flip trade. They are reckless!!! One must consider why such individuals push this kind of agenda all the while bashing PK stocks each and every day of their lives. IMO most are short selling MMs who get on the boards to try to sway sentiment of the retail sheep so they can flip daily and continue to fleece those who actually listen to their mindless incoherent garbage.
Mr Allinder, where is the 10K????
$RFMK
