I don't usually agree with all the off the wall theory but this is odd. There are way too many times I see it trade 100 share lots and it appears very odd. The results this year were below my estimates for this year, way below my estimates. There is a big seller of shares almost every day. There better not be an offer at $2-3 a share because that's just way too low. I'm hoping it's just tax loss selling and fears on unknown bank issues getting resolved.
I know last quarter they got some extra good buys from the manufacturers but it doesn't seem that it resulted in profits. The inventory went up because of these special buys so maybe fourth quarter will show the results. I would love to see them draw down inventory to $14-15M and pay down the loan by $5M or more. If they can only break even with the ApplianceSmart stores why have huge inventory and big loans just to break even. Lean down the stores for now and pay down the debt. If they can make 3% on sales they will make $.50 a share. That's $60 net profit on a $2000 appliance package which I would think they could do. The mgmt has seemed to manage the business well all things considered so I'm not selling my shares. Things will get better. Jack is a smart guy!!
Don't tell me you're buying into the manipulation theory too?! If it was manipulation then investors would come in and buy the stock right back up to previous levels.
The odd trades here and there are common in microcaps and are most likely due to uninformed small investors putting in market orders. DON'T USE MARKET ORDERS! This stock isn't like Apple with a 1 cent bid/ask spread with tons of volume to back it up. Sometimes the only bid for ARCI can be a large amount below the current price like 10%, or an ask can be way higher. If you put in a market order sell, that low price is the only one you are going to get. It gets especially bad with larger orders. With this stock, that means anything over a few hundred shares. For example, if there is a existing bid for 500 shares at $2.00, and you put in a market order for 1000 shares, you will probably get the 500 shares at $2 but you will then move down the ladder at get filled at whatever other bids are out there. After all, isn't that what a market order says - fill my order at whatever the price someone will buy/sell at? So you may get the remaining 500 shares filled at $1.80. Heck, if there is no current bid for the additional shares, computer traders might even quickly come in and fill the order at a lower level. I don't know as that is beyond my knowledge. The point is it is not manipulation but investor idiocy that can easily be prevented.
DON'T USE MARKET ORDERS ON ANY STOCK EVER! Especially not this one. Use limit orders. Don't use stop losses unless your stop loss converts into a limit order, not a market order. Market orders are asking for someone to take you for a ride.
It just seems odd the volume of 100 share lots traded. I know what you mean about limit orders etc. I use to be a trader at a large broker dealer. I know that somebody could sell shares and then put in offer to buy the comapany bc I've seen it happen. The fundamentals are worse and tax loss selling but we will have to wait and see. Have a nice day.