Hope something's done soon. And I'm talking market-wide. The bleeding is just too much. No market and no economy can resist it.
OTC is almost dead. NASDAQ is following the same path. A more or less steady economy but it's typical to find tickers with 90%, 95%, 99% declines.
Just an example from NASDAQ (fortunately only had a small loss there): GBSN, it was trading in the $3-$4 range just 6 months ago, $6 months before. Warrants were issued to pay debt. Conversion to shares at market value minus a percent, typical. Everybody expected the conversions close to $3 and to have an extra 2 million shares when finished. What happened? Shorting and shorting and shorting. Naked shorting reported but the shorting continued. Conversion took place when the share price was in the $0.05-$0.10 range! From less than 10 million shares it went all the way to 300 million. And it stopped there because the A/S was 300 million. But wait, the company was only half way in the conversions. So, they had to make a R/S 60:1 and the conversions continued. Maximum of $16 after the R/S, now $0.25 in one month. That $0.25 means $0.004 before the R/S. So, if anybody had $100K invested 6 months ago, now has $100.
All that in a NASDAQ company! Nothing special in the daily operation, they produce some diagnostic equipment.
If this happens or can happen, who is going to be willing to invest in these kinds of markets?
A bunch of scumbags allowed to do whatever they want. The bleeding continues.
OTC is almost dead. NASDAQ is following the same path. A more or less steady economy but it's typical to find tickers with 90%, 95%, 99% declines.
Just an example from NASDAQ (fortunately only had a small loss there): GBSN, it was trading in the $3-$4 range just 6 months ago, $6 months before. Warrants were issued to pay debt. Conversion to shares at market value minus a percent, typical. Everybody expected the conversions close to $3 and to have an extra 2 million shares when finished. What happened? Shorting and shorting and shorting. Naked shorting reported but the shorting continued. Conversion took place when the share price was in the $0.05-$0.10 range! From less than 10 million shares it went all the way to 300 million. And it stopped there because the A/S was 300 million. But wait, the company was only half way in the conversions. So, they had to make a R/S 60:1 and the conversions continued. Maximum of $16 after the R/S, now $0.25 in one month. That $0.25 means $0.004 before the R/S. So, if anybody had $100K invested 6 months ago, now has $100.
All that in a NASDAQ company! Nothing special in the daily operation, they produce some diagnostic equipment.
If this happens or can happen, who is going to be willing to invest in these kinds of markets?
A bunch of scumbags allowed to do whatever they want. The bleeding continues.
Calissio Resources Group, Inc. (CRGP) Stock Research Links
IMHO
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
