RE:RE:UBS is back & has posted bids again
At the present price of $.075 the stock offers lot of value. The assets of the compnay are worth lot more. Even the cash on hand is lot more than the market cap of the company. This company is not going to go bankrupt soon. It has huge chuck of cash for number of years to wait out.
Why the stock is trading at such a huge discount to its actual value of the assets. It is demand & supply of share. Old shareholders who own this stock at huge prices have lost most of their investment & are dumping the stock.
A few speculators like UBS are buying.
Myslef I am just flipping the stock when ever I can & just get what ever spread I can. I have been trading this stock for a small spread of $.005 to about $.02 cents for a while at these very low prices. Recently the spread has been mostly $.005 & rarely $.01. I have flipped this stock so many times that now I have a a chunk of shares for free . At $.08 price you have to trade the shares about sixteen times at a spread of $.005 to get free shares for a spread of $.01 you can get them free of cost for about in eight trades. Its costs me $7 to buy any quantity & $7 to sell. I have traded this stock so many time that I have lost count. I use market book to buy & sell & keep an eye on big buyers & sellers. I usually so not sell all the shares. There have been a few times when I have sold all.
You neven know maybe one day it may pull a semi CLL. The stock was sitting at $.06 for a while just after the last results it took off & run upto $.30 & lost a few cent yesterday & today it is at $.23 still at $.23 it is over a 3 bagger.
I do not know what will happen to ELR. Someone may buy it out & break up the assets. The value of the compnay is lot more then the market cap. I am not waiting for take over. If it happens I hope I am holding some shares at that time, in the meantime I will continue to flip the shares for a tiny spread. If this stock is stuck at these prices & tight range for a long time it is fine for me.