Yes, "it seems" the manipulation of the daily pric
Post# of 11899
Yes, "it seems" the manipulation of the daily price and volume is "apparent".
Seriously, it does exist in the micro cap plays because it takes so few daily dollars to move the stock to whatever price point one wishes. If you think about the action, you can see that ~6M shares were short sales, we dont know if they covered on the same day, but usually they do cover on the same day as the overall short interest has been basically zero in RFMK since the T4T restriction. However the T4T does not stamp out manipulation, it only stops the possibility of abusive naked short selling for those brokerages clearing with the DTC. If we assume the short/cover action was intraday, then if ~6M shares were shorted then ~6M shares were covered probably lower for an intraday profit, but the daily volume was only 16M shares (only one and a half percent of the total shares), so really those shares were just used as toys and basically represent artificial volume, or else can be looked at as gaming retail investors, either way the only real volume representing sellers selling shares to buyers buying shares, was a meager ~4M shares. The average daily share price for those shares was roughly ~$0.0014, which if you do the math accounts for only about $5,600. This is an extremely small amount of money for MMs or hedge funds to overwhelm on a daily basis. Most financial players and participants gaming the OTC stocks are backed by a slush fund in the hundreds of millions, typically. They would not use all of that money to game a pink sheets stock however its possible. Typically they could go so far as to use a million or two to game retail OTC players to make small daily gains using trading algorithms and machines in these plays. This means that RFMK would need to see at least 10% of the total shares, which is about 100M intraday volume at say $0.01/share in order to push the manipulators out of the daily trading (making it too risky and no longer lucrative to game the stock daily). I figure, the average future RFMK investor could have about $5,000 to invest (rough estimate) so I estimate that for a 10 day run up the stock would need to see at least 200 new investors each day accumulating about a half million share position each, and that I would think get the company to close to 1,000 total shareholders of record in about two weeks time and up into multiple penny land. This is probably too bullish and speedy of scenario so say the same metrics spread over a one month period and it would mean we would need to see at least about 30M shares traded each day for about a month with new comers in and out each day but mostly retail accumulation and at that point we would quickly see the share price in multiple penny land and no more manipulation. Just guessing but I dont think such assumptions are too far out of left field.
GLTY
$RFMK!