Let's study stock ticker symbol ECMH this evening. Today ECMH had 199M volume with no significant news or catalyst. The stock went from .0001 to .0003 (up 200%) on large volume. The volume can be explained by either one of two scenarios:
1. This ticker is being front loaded for an upcoming pump and dump. It is highly unlikely, but possible. Let's keep a watch!
2. Someone (or a group) decided to try to generate momentum on this shell to see if it will gain value in price per share. Volume and momentum is appealing to many looking to jump in just because they think the price is going to go higher. The ask looked thin so they smacked it.
The likely scenario is #2. ECMH has been .0001/0002 and sometimes .0001/0001 (no bid) since the last hump back in October 2019. There were 87M on the ask at .0002 for a few days. Clearly $17,000 could taken out the ask today to make it look appealing on scanners. It hit #8 on OTCBB Actives today around 12:30 ET. Many buys were on the ask at .0003 today giving those who bought out the .0002s a 50% gain. .0002/.0003 quickly fell back to .0001/0002. All the buyers at .0003 are instantly down 50%. A large bid remains at .0001.
What is ECMH? A shell ticker. There is no business here and probably was a vehicle for new issues many years ago back as far as the 1980s!. ECMH is just a ticker that trades. It has not yet been suspended, but had several fraudulent pumps in the past and probably should have been suspended then. Why does this ticker continue to trade? Well the shares were registered with a TA many decades ago, but said company never registered with the SEC. The low share structure is appealing to promoters. Look back to 2017 when there was a fake twitter account set up to pump this. The stock ticker ran 2300% from .0001 to .0023 in just 14 trading days! Interesting, but highly illegal.
Although susceptible to a suspension at any time due to past fraudulent activity, this ticker will continue to trade until fraud is confirmed and determined by the SEC.
A couple things to note here:
1. Do not attempt to create momentum on any triple zero stock. There is and always will be someone who has more shares than you to sell at a much higher price than they acquired them at. Constantly remind yourself this, Do not try to create momentum.
2. A 39M ask or a 87M ask at .0002 might look entertaining and attempting to take out, but DONT. Real-time bid/ask does not include AON (All or None) orders. There can be several millions set as a AON GTC order that is invisible on the realtime. Usually realtime executes first in first out, but if there is an exact match with AON GTC that is in first before realtime, it will execute first.
3. One could have bought ECMH at .0001 several months ago, set a good until cancel order at .0002 or .0003 and sold today at 100% or 200% profit. This does happen. It doesn't happen often, but it does happen.
1. This ticker is being front loaded for an upcoming pump and dump. It is highly unlikely, but possible. Let's keep a watch!
2. Someone (or a group) decided to try to generate momentum on this shell to see if it will gain value in price per share. Volume and momentum is appealing to many looking to jump in just because they think the price is going to go higher. The ask looked thin so they smacked it.
The likely scenario is #2. ECMH has been .0001/0002 and sometimes .0001/0001 (no bid) since the last hump back in October 2019. There were 87M on the ask at .0002 for a few days. Clearly $17,000 could taken out the ask today to make it look appealing on scanners. It hit #8 on OTCBB Actives today around 12:30 ET. Many buys were on the ask at .0003 today giving those who bought out the .0002s a 50% gain. .0002/.0003 quickly fell back to .0001/0002. All the buyers at .0003 are instantly down 50%. A large bid remains at .0001.
What is ECMH? A shell ticker. There is no business here and probably was a vehicle for new issues many years ago back as far as the 1980s!. ECMH is just a ticker that trades. It has not yet been suspended, but had several fraudulent pumps in the past and probably should have been suspended then. Why does this ticker continue to trade? Well the shares were registered with a TA many decades ago, but said company never registered with the SEC. The low share structure is appealing to promoters. Look back to 2017 when there was a fake twitter account set up to pump this. The stock ticker ran 2300% from .0001 to .0023 in just 14 trading days! Interesting, but highly illegal.
Although susceptible to a suspension at any time due to past fraudulent activity, this ticker will continue to trade until fraud is confirmed and determined by the SEC.
A couple things to note here:
1. Do not attempt to create momentum on any triple zero stock. There is and always will be someone who has more shares than you to sell at a much higher price than they acquired them at. Constantly remind yourself this, Do not try to create momentum.
2. A 39M ask or a 87M ask at .0002 might look entertaining and attempting to take out, but DONT. Real-time bid/ask does not include AON (All or None) orders. There can be several millions set as a AON GTC order that is invisible on the realtime. Usually realtime executes first in first out, but if there is an exact match with AON GTC that is in first before realtime, it will execute first.
3. One could have bought ECMH at .0001 several months ago, set a good until cancel order at .0002 or .0003 and sold today at 100% or 200% profit. This does happen. It doesn't happen often, but it does happen.
