After many months of anemic volume of only about 1, 2 or 3 million shares traded intraday in RFMK it looks like finally we are seeing more substantial volume. Even with 50M shares traded at .0022 though, that is roughly about $110,000 that traded hands so far today. In my opinion, this is only the beginning. If and when several million dollars trades hands each day in RFMK, then I will think that we have reached the level of trading where we can say RFMK has achieved success as a stock. It all depends on future volume, demand and interest in the stock, but I think as greater exposure gets out there in the real world for RFMK and the CannaCig, as well as the other line of products to come, the trend of increasing volume should remain over time. I think if a few million dollars were trading hands each day eventually the stock could trade in multiple pennies, just a guess. I think for now though with less than 100M trading intraday, the stock will probably remain in the sub-penny range. This is a very good start for the stock though so we are seeing good positive action today. I think though that the stock still remains extremely thin and it is very easy to get jubilant about back to back gains of 50%+ a day but when you really think about it only a month or two ago we were trading at near the .003 level which is the 200 day moving average, therefore until we get above the 200 day moving average level I really do not think the action means anything. As I always say, when the intraday volume is near 5% or less of the O/S then the price action does not necessarily tell anyone much, either way, up or down. I think its much easier for MMs and lone sellers to take it down 20% per day on a few million shares than it is for buyers to take it up on tens of millions of shares traded intraday, so in that regard the recent price action is a good sign. However, I will possibly become jubilant if and when the stock breaks the 200 day moving average and the intraday volume exceeds 100M shares.
Its possible too that a great many investors have taken notice finally of RFMKs fundamental progress and so the interest in the stock may have grown leading to the recent price appreciation. I agree with many here that it looks like RFMK could have very good performance in the next few months leading up to the end of the year, especially with so many new products on the horizon as well as filings, good quarterly revenue and a possible uplisting.
GLTA!
$RFMK!
