RE:should be much higherq Stock is still washtraded as it was last 2.5 years. What these guys do is they sell to each other at the prices they want and they purchase at depressed prices from tired investors. Here is an example. I just put an order @1.28 about an hour ago and the trades came to a halt. And in the previous 2 hours there were 2.5 million shares exchanged. They don't want to sell to a third party. I guarantee if I pull my 1.28 order, the stock price will lower to 1.28 almost immediately.
Basically the way they operate is as soon as there are no buyers they come in and wash trade, as soon as buyers come in they disappear until the next wash trading cycle.