The market makers have made millions off JBII/PTOI when they ran the price up to $7...and ran it back down to this paltry price. They never had to sell or buy a legit share...I would guess most of the shares were phantom, and IMO, they are only going to cover a portion of it in order to avoid big penalties /fines etc. It happens all the time...there's nothing new here.
They (mms) are going to get the shares to cover by creating "traders" in the stock. There are no shares at this level...everything is phantom shares... there are no sellers, and buyers are buying phantom shares. This puts the phantom share count in the 10s of millions, and my guess is they will cover about half...maybe 15 -20 million or so.....but there's no "REAL" shares to be had. How do you get em?? Create traders by putting a knife in the heart of a vulnerable stock for a long period of time..so even longs can get down to a "trade able" level. The float has been spoken for...I'm surprised there hasn't been some kind of legal action already taken to secure this nonsense...but it is the way it is...the wild west! A reverse split would be just the kind of thing the MM's are hoping for...for obvious reasons...but it doesn't look like it will happen...Heddle is bought in and I think finally getting some good advice...somewhere.
At some point, longs just get exhausted. Yep, there will be some to pick up a few low hanging fruit, but overall, retail is wiped. Management has really boned the dog here over a long period of time...no production, no Board, shift in ideologies and business plan, no sales, no agreements...and no revenue for...forever. They fell right into the playbook if you ask me. Many longs will wait for SOMETHING...some kind of PROGRESS...before they decide to drum up some more activity. Some have sold for huge losses...but not many of them. Most have averaged down....while picking up very few new investors because of the great stall....and that's the market for the MMs. For me, I just find the analysis of human behavior and investor profiling pretty interesting.
The MM's will get the percentage of shares necessary to avoid crisis from the very people who made them millions already...desperate investors. That is their worst case scenario....clearly, their plan is never having to cover a naked short position...of course that never existed..because that would be illegal. BUT, what long, having average down and given what they've been through over the last couple years isn't thinking about dumping a few when the price gets even close enough?
Point is...MM's lose nothing...they've made their millions and short of their ultimate goal...have created a trading pool at a price that covering the status quo amounts to a comparative hill of beans. There's nothing "suicidal" about it....they're laughing their way to the next scam to do it all over again.
They (mms) are going to get the shares to cover by creating "traders" in the stock. There are no shares at this level...everything is phantom shares... there are no sellers, and buyers are buying phantom shares. This puts the phantom share count in the 10s of millions, and my guess is they will cover about half...maybe 15 -20 million or so.....but there's no "REAL" shares to be had. How do you get em?? Create traders by putting a knife in the heart of a vulnerable stock for a long period of time..so even longs can get down to a "trade able" level. The float has been spoken for...I'm surprised there hasn't been some kind of legal action already taken to secure this nonsense...but it is the way it is...the wild west! A reverse split would be just the kind of thing the MM's are hoping for...for obvious reasons...but it doesn't look like it will happen...Heddle is bought in and I think finally getting some good advice...somewhere.
At some point, longs just get exhausted. Yep, there will be some to pick up a few low hanging fruit, but overall, retail is wiped. Management has really boned the dog here over a long period of time...no production, no Board, shift in ideologies and business plan, no sales, no agreements...and no revenue for...forever. They fell right into the playbook if you ask me. Many longs will wait for SOMETHING...some kind of PROGRESS...before they decide to drum up some more activity. Some have sold for huge losses...but not many of them. Most have averaged down....while picking up very few new investors because of the great stall....and that's the market for the MMs. For me, I just find the analysis of human behavior and investor profiling pretty interesting.
The MM's will get the percentage of shares necessary to avoid crisis from the very people who made them millions already...desperate investors. That is their worst case scenario....clearly, their plan is never having to cover a naked short position...of course that never existed..because that would be illegal. BUT, what long, having average down and given what they've been through over the last couple years isn't thinking about dumping a few when the price gets even close enough?
Point is...MM's lose nothing...they've made their millions and short of their ultimate goal...have created a trading pool at a price that covering the status quo amounts to a comparative hill of beans. There's nothing "suicidal" about it....they're laughing their way to the next scam to do it all over again.
