Copy of a post I made on iHub in response to someo
Post# of 1674
Every day - outside of the main trades in complete multiple millions - there are a few minor trades by people attempting to manipulate the stock for their own purposes - not all of which are necessarily related to $REDG per se.
For instance, at 15:57:45 someone sold 10,000 at the non-retail price of .00035 - no idea why - it was not as if anyone would be duped into panic selling when we it is obvious that the convertible debt selling is being done in a controlled manner that the bid will accept without being wiped out.
There was then almost immediately a paint up of 90,000 at .0004. That could have been someone who had a large holding of $REDG who was in danger of going below the $25K threshold in their portfolio to maintain Pattern Day Trader status which is important when flipping other stocks multiple times a day because you get the money back to re-use immediately you sell.
For instance, someone buys 90,000 for $36 and they get $5K more in valuation in their portfolio if they had 50M shares or $10K more if they had 100M shares - which might make the difference between being over or under the $25K. Also, if the same person does it every day for 11 days - and it has been happening for a few days already - they have accumulated another 990 REDG at .0004 which they won't be losing money on this year.
I see it all the time on low volume days in other stocks - particularly those where I know there are some big holders.
Red Giant Entertainment Inc. (REDG) Stock Research Links
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.