REDG Trading Thursday June 25. Early on, 1 or 2 pe
Post# of 1674
Posted On: 06/25/2015 5:34:12 PM
REDG Trading Thursday June 25. Early on, 1 or 2 people, possibly influenced by postings elsewhere, decided to sell around 21M into the very strong bid at .0011 that had been there for several weeks ever since 1 /2-tick flipping stopped. The situation was not helped by a few people on another board, well-known for criticising the efforts of the CEO when he doesn't deliver items to their expectations, commenting adversely about the non-publication yet of Hulu results and the way Markiplier handled the reference to GSL #1 in a recent video. There was no bad news, either in a formal PR or in comments from the CEO on FB, and the status of all lines of development remained unchanged.
Then dilution, which had not taken place for several weeks, occurred, primarily through BMAK (and later possibly VFIN as well). A few 5 decimal place transactions took place, again handled well by the MM in that the transaction volume did not come off the bid size, and thereafter there was strong buying all day through a BMAK 10K on the ask at .0011. I estimate that 46M was bought, most probably by longs who recognise .0011 as "cheap" since flippers might have been a bit wary of buying (and there were some other very high volume flips going on in other lower price stocks today). Many of the buys were for 2M+, even after multiple 10s of M had gone through, indicating to me that buyers didn't care - they just wanted more .0011s that they had not been able to get for the last several weeks. VFIN moved up to .0015 and BMAK moved up to .0012 a few minutes before the close.
Therefore, provided dilution does not continue for much longer, no real harm was done except that 87M shares were bought for around .0011 today that 2 days ago people would have to have paid .0015 up for and taken out several higher .0001 increments in the process. Provided the CEO can still deliver one or more of the long-awaited revenue producing lines of development in the next 2 weeks, I still anticipate a significant rise in pps.
All of the above, as always, is just my take on what transpired today after watching Level 2 continuously. I'm happy with my current position which I will continue to hold until GSL (weekly titles) is launched and the previously announced partnerships are confirmed.
Then dilution, which had not taken place for several weeks, occurred, primarily through BMAK (and later possibly VFIN as well). A few 5 decimal place transactions took place, again handled well by the MM in that the transaction volume did not come off the bid size, and thereafter there was strong buying all day through a BMAK 10K on the ask at .0011. I estimate that 46M was bought, most probably by longs who recognise .0011 as "cheap" since flippers might have been a bit wary of buying (and there were some other very high volume flips going on in other lower price stocks today). Many of the buys were for 2M+, even after multiple 10s of M had gone through, indicating to me that buyers didn't care - they just wanted more .0011s that they had not been able to get for the last several weeks. VFIN moved up to .0015 and BMAK moved up to .0012 a few minutes before the close.
Therefore, provided dilution does not continue for much longer, no real harm was done except that 87M shares were bought for around .0011 today that 2 days ago people would have to have paid .0015 up for and taken out several higher .0001 increments in the process. Provided the CEO can still deliver one or more of the long-awaited revenue producing lines of development in the next 2 weeks, I still anticipate a significant rise in pps.
All of the above, as always, is just my take on what transpired today after watching Level 2 continuously. I'm happy with my current position which I will continue to hold until GSL (weekly titles) is launched and the previously announced partnerships are confirmed.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.