RE:Just Thinking Out Loud.....Uplistswyint123888 wrote: We have had over a million on the bid for about 2 weeks....these shares are not stepping into the ask but are moving up the bid slowly....I see it as support.....what it is doing is helping the asks get taken out and we are now at 49.9 million in market cap....one of the uplisting rules is 50 million....just wondering if this is why we haven't uplisted....Marshal was certain it would happen before Q3 and at the time he said that we were well over 50 million in cap.
I realize there are several things needed to uplist and have no clue if you need to meet all of them but we can't argue the 2 week long million plus bid support (which we haven't seen on any regular basis for quite some time) is pushing us towards 50 cap.....to remove all doubt how about they move that bid support to 15 and lets see what happens to uplist haha
I would think the million plus shares is probably part of the share buyback. Companies are not allowed to interfere with the normal movement of the share price when buying back shares. So as the price increases naturally from others buying the stock, the company can move their bid up which will also provide support for the stock. I wouldn't be surprised if some of those shares a half cent over the million plus bid is also DM buy back shares. If investors decide to sell into any of those bids then the company will be more then happy to grab those shares at that price and cancel them out.
As for the $50 million market cap for a technology company to uplist, according to the TSX policy on uplisting a profitable company is exempt from that minimum market cap. Typically nothing in the market occurs in the timeframe orginally thought. I've said continually to a friend that we may not see the uplisting until some time in August, maybe even September. Anything before that, I consider a bonus. However, there is still plenty of time in July for that announcement to come. And although most things typically do take more time then originally planned, DM's EV rollout is occuring at a blistering speed.