Market Manipulation Continues There are same nefarious houses that continue to manipulate the share price of Arch. If you have noticed the past theee trading days we are no longer hitting new intraday highs at the open. These houses do open higher then the close but continue to walk down from .15 cents to .25 cents and slowly walk up last hour with fresh bids in the last 5 minutes and generally at 3:59 pm just prior to market closing at 4:00pm.
The difference now is we are closing lower then previous close versus a new high.
I do not believe this is profit taking from longs but more likely day traders and institutional guys trying generate fear and shake out weak hands.
This company has high insider ownership and a very tight float and they know what they have hear and are not selling.
If you look at house 79 buys and sells a large percentage of trades are done on the dark pool so that is not retail. Anonymous is also heavy on the sell side and someone is hiding their identity.
We all agree the stock price is severely undervalued for a phase 2 going into a fully funded equivalent phase 3 with backing from various well redd sic petted institutions like CATCO, WHO, 65 Hospitals across Canada have signed up to this new phase 3 clinical trial.
We currently sit at about $300M market cap and comparable phase 2 going to phase 3 companies have a market cap of $600M to $2B.
The company did a news release that actually should have spiked the share price to $10-20 range ($600M to $1B) market cap but had little impact and since news release the share price is now being manipulated lower.
Arch has very low trading volume and easily manipulated. Unfortunately very few institutional players know about this gem.
Another interesting observation is the large gap between bids and asks often .10 cents to .15 cents and buyers just randomly hit the low ball bids knocking share price down .10 cent to .15 cents on volume of 100 to 500 shares. The November 30 short interest was only 12,568 shares registered short but that does not preclude naked shorting which is a problem on Canadian exchanges.
We have no analyst coverage, we are on tier 2 exchanges and don't qualify for many institutional buying.
Yesterday was a big Green Day on the markets yet we underperformed by closing down 3% and if it was not for the last trade at 3:59 we would closed down 5-6%. Today is looking green for the open we will see where we end up at the last 15 minutes and in particular the last trade at 3:59.
Someone does not want this closing above $5 and is working hard to suppress the share price. $5 close qualifies for margin on TSXV at 25%.