Quote:
Originally Posted by KentalCowtipper
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I know they have phenomenal potential and obviously people are willing to invest in their company and product (100 million shares traded yesterday; 40 million so far today).
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I've watched 3 and 4 million buys hit at .20 the last couple of days. Who else but an institution or hedge manager drops 800k on a single stock? Some funds/institutions do invest in penny stocks but the majority do not. What else can I say.
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When the entire number of outstanding shares are traded in a single day, you have to know a whole lot of flipping is going on. Also, do you realize when you look at the volume information somewhere like Google Finance, they aggregate all the trades over a 2 minute window? That is often dozens or hundreds of trades. In fact, looking back over the past 2 days, there's only two 2 minute window where more than 3M shares changed hands. Your theory about people buying up huge blocks of shares is unfounded. I'll have my brokerage window up tomorrow and will look at the bids/asks for any of these huge blocks. At this point, I think you're looking for excuses to keep riding this bet. Chronic gambler indeed.