That big seller sure is still there. We are lower at 2.47 copper and 1.14 Zinc then at 2.10 copper and .80 zinc.
Then again we may get bot at any time so will wait till teh big seller runs out.
Have written something up on a profitible 40+ year old microcap that has more cash than market cap on IHub, its off topic, but in case anyone is interested:
I have had DRYS is past and got out with small gain, a year later after the stock had dropped from 2,000 split adjusted to $5 and the mkt cap was tiny, it has gone up more than any other stock this week, 1,500%. Happy for those in it. It is in horrible shape hence 99% drop. Why did it go up?
Saluzzi said some of the extreme trading was probably exacerbated by the fact that many of these companies do not have a big supply of shares.
DryShips, for instance, has a free float of 1.06 million shares ($5 million). https://www.reuters.com/article/us-shipping-stocks-idUSKBN13B2HG
It was the float. Share count is deceiving its dollars of float that really counts.
How about BTUUQ? They were bankrupt, but had a tiny $float after that. There were more Call Options than shares to cover them, someone noticed and started buying stock/converting and the stock went from 1.70 to $18 in a week. Happy story for me, happened to have 2.5 2018 Calls that could not sell for $0.10 ($10) that suddenly were worth $1500 each, very cool and did get $17.30 equiv stock value on last Call sold on the highest day for it. Sold some for 3, 5 8, 12 etc on way up. In long run company may be worthless.
This relates to BWMG it has the lowest Float in terms of dollar value of any profitable stock with a positive book value I know of. Its only $150,000 or so. Heck right now I have a bigger $position in NSU than that.
This provides a rare and unusual opportunity in terms of risk/reward. The risk if a cat 5 hurricane flattens Brownies and kills everyone there is $150K, well with insurance maybe not, maybe no loss, but worst case is -$150K. What is the upside? The average sporting goods company has a 1.8 Price/Sales ratio Yahoo says. BWMG is at 0.13 so if BWMG just goes to average value, that is a 14 bagger to .075 share. Not bad. Maybe it gets momo and goes to .15, that would only be 3.6 P/S, lots of companies that are that high, not even rare, then a 28 bagger.
It could happen and again the downside is just .0053.
iHub has legions of stock boards for worthless companies that have no sales and never will have sales. People knock themselves out posting on those boards. The stock prices are often under a penny and the market cap can be millions. If you know some people doing that, tell them about BWMG, a stock that will go up 14 times if it just gets an average value. It has had sales for over 40 years, its profitable and has more cash than the value of all the stock. And it is under .01 and has a float of about $150,000. A much better deal than the legion of scam stocks on iHub.
Cheers