MM's and big fish desperately trying to hold it down. Question about the Wells Fargo financing......
Wells Fargo has a brokerage arm to its banking operations. Are they allowed to loan PEIX money and buy into it at the same time? Wouldn't that be considered insider buying and selling? And could it be Wells fargo itself trying to keep the price down so it can buy low, give PEIX a loan, and then sell high later?
What I think is this, in the next couple of weeks don't be surprised if it goes up to .83 cents. From there back down to .57 - .63 cent range. From there a long bump up to 2.20 by February. Low volume on good news always means the same thing. If I am correct, Wells Fargo is in on the lending side, and it also has a brokerage side to its bank. WOuldn't surprise me if some Wells fargo dude was playing golf with some other wells dude from the brokerage side and they figured some things out by the eighth hole. make money on the loan, buy up a bunch of shares on the down lo, pps .35 to .36 range and then self off at a dollar or so, make your boss happy and get a big Xmas bonus. Stranger things have happened. All just speculation. Just wouldn't surprise me. .83 in the next couple of weeks, 2.20 by February
Only 990,244 shares traded today, that is $360,943 you got to be kidding me. Nothing is holding this stock down, if anything you few buyers are holding it up so it won't tank. This thing is going to sink after earnings report.