Post by
charlie007 on Feb 08, 2024 9:45am
why are shares so cheap?
probably some green today followed by a red close in time for tomorrow's earnings (loss)
Comment by
BrokerG on Feb 08, 2024 10:27am
So the reasoning of doing the RS , according to Canopy, was to allow funds and other institutions to purchase the stock, since most institutions cannot buy a stock less than $5.00. Now that we are approaching that level, I guess we were lied to again. I am shocked ( sarcasm)
Comment by
Traderstock101 on Feb 08, 2024 10:32am
Because you are afraid for nothing and you give away your shares for free instead of putting your sell orders much higher like $7.00. So if all the aggressive Day Traders placed their sell orders at $7.00 you will see a very rapid rise as overdrafted sales will have to rush to cover their margins.
Comment by
a2bman on Feb 08, 2024 11:21am
Thats not the reason. Most funds cant buy stock based on a number of factors but $5 share price isnt usually one of them. Ive seen plenty of times when they bend the rules for something they like. The reason for RS was to keep price high enough to stay on their market below $1 the get kicked of the board