Every time I buy a block of 5000 or 10000 shares of this stock for 9 or 10 cents a share, someone immediately executes a $30 trade to drop the price back to 8 cents. Thus, I don't have to be rushed, I can buy the stock at my leasure, space it out over a few months, and just buy 10,0000 at a pop. It's great knowing you can buy stock now, or next week, or the week after, for the same price, and not miss out on anything. Love those guys, not gougers like I thought they would be. I might go on the payroll deduction plan and just buy 10,000 every two weeks for the next several months, and not worry about the price getting out of reach (they will still be doing the 8 cent, 300 share thing a few months from now). Great people, those market makers. Gotta love them.
I am 99% sure that the MM's are cheating regulations. The SEC short interest in RGRX ia 100 shares, yet over last year according to daily FINRA short data, a coupelemillion RGRX has been shorted and not borrowed or reported to SEC. A MM is "short exempt" from reporting or borrowing shares, as long as their short is in the "ordinary course of business"..buying and selling and making a "market". BUT, MM's are PROHIBITED from making large POSITION TRADES, NOt in the course of buying and selling daily. Clearly to me, the MM here has a several MILLION share short position in RGRX that is a POSITION trade (for BK). It is absurd to think they are short several million as a daily market making activity. RGRX doesn't trade! if Finkelstien wants to nail the MM who ticks down RGRX, call the SEC and examine the MM books. IMO? they are short several million RGRX. Against the regulations too. It is a POSITION trade, not a MM buy sell trade.
I'm just thinking if RGRx hasn't gone bankrupt by now, it's not going to go bankrupt. That means the shorts will have to clear the books at some point. For now, just keep buying a little bit every now and then at 9 cents a share, eventually, a reversal in price will come. People who bought at $1 or $2 a share won't get their money back, but those who buy in at 8 or 9 cents should do okay (double or triple their investment in 2 or 3 years). If a short wants to keep selling me 9 cents shares for now, I wish him no ill. I can afford $800 or $900 twice a month for then next few months. This is really small stuff, and there is always the possibility of winning big.