GREY:CNONF - Post by User
Comment by
HomerAndCompanyon Feb 02, 2019 11:37am
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Post# 29309935
RE:RE:RE:Is this a real company or a house of cards?
RE:RE:RE:Is this a real company or a house of cards?stockthief, You make perfect sense - I don't think there's any doubt about the "sell the shares at a huge profit" part. I'm sure they'd like to get the SP to a level that allows them to join the big board too if they can - why wouldn't they?.
In the last 18 trading days they've marched the price and volume ever higher - maybe about 800,000 shares in total at $1.10 to $1.50 with larger volumes at the higher end of the price range. So the IPO underwriter that bought their 1.25 million shares for $500,000 gross three months ago is probably reaping a decent profit already - let's say they sold 600,000 at an average price of $1.25 that would be $750,000 for their $500,000 - a 50% gain in 3 months with 650,000 shares still to sell. That looks like a good business to me - at least from a profit point of view.
Insiders for their part would have their $500,000 IPO money and almost 18 million shares held back (if they haven't sold any yet - I'm assuming that most of the recent trading volume was the underwriter & some must be retail investors that were happy to take a quick profit, contrary to the advice of the investor relations types).