Market maker CANT == Cantor Fitzgerald & Co
http://www.cantor.com/public/aboutus
Who knows exactly why there seem to be unlimited supply of shares down at the $0.0014 level. There are so many different market mechanics that are possible it is difficult to know where the dumping is coming from. It could be the company diluting raising funds for operations as the bashers always love to blame, or, it could be insiders with preferred shares they converted into millions of shares dumping whenever the pps goes up on a relative basis just to get their capital back from the loan they made last year to the company as the bashers always love to blame, or, it could be firms like FairHills capital who may still have an inventory of shares on the books and want to just dump them all to clear the books after already having made profits from the stock transactions, or, it could be individual or groups of retail traders and flippers who bought at the $0.001 level and after pushing it up and pumping over the last few days have decided that there is no more buying pressure besides themselves so want to just dump and get out because they think the momentum is over, or, it could be manipulating market makers doing business as usual where they have access to hundreds of margin accounts and they borrow an almost endless supply of shares from those accounts to short and dump below the bid to walk it down so they can cover lower and make a profit each day, or, it could be distressed sellers who are taking a bath on other stocks and need the capital to cover a margin call elsewhere, there are just so many possibilities no one can really know. All we can really know is that the buying power is clearly not under the market for RFMK yet. The stock traded very weak today IMO. I never predict short term stock movements but I can say that if the stock trades like this in the coming weeks, there will likely be no upward momentum developing. Even though we have recently had relatively higher volumes, in the 25M to 50M range, that is a good sign long term but even so, still with only 50M shares traded intraday, that is only about 4% to 5% of the total shares in the company. On a few days worth of trading such volumes it is no surprise to move up 100% and back down again in a rather quick time frame. The pink sheet market is extremely volatile and the spot share prices mean absolutely nothing at all. Sure groups can get on these and push them around like a rag doll but there is no substitute for a larger number of participants and buyers and sellers. We longs must just continue to be patient and wait for positive fundamental developments for the company which will over time bring higher volumes and the higher prices will come eventually. For now the stock still looks like an illiquid low volume play thing for the manipulators, whomever they are, it does not really matter who or why, all that is eventually taken care of by greater volumes when and if the company can accomplish their long term goals such as,
10K filing
Audit
Q2 report(s)
Product launch
Marketing, sales, distribution, etc news
Uplisting
$RFMK!
