A little lesson on .ob stocks like sknn.ob. .OB means the stock is traded "over the counter", which isn't actually what it sounds like. It's just traded less often, so it's not traded on the main Nasdaq or NYSE trading "floors." (Note that Nasdaq's floor is entirely electronic - there are no people shouting at each other). This is usually because it doesn't qualify for full listing on Nasdaq itself.
.OB means OTCBB (Over the Counter/Bulletin Board). They're still traded electronically, they're just very thin and you can't always get good prices.
.OB stocks are very thin on volume, normally, so it may be hard to find a buyer for shares you own at a price you're happy to sell at. They can also be very volatile - because there are few owners, it's very easy to push the stock price around by just buying or selling aggressively. These stocks are thus common targets for scam e-mail messages claiming some stock will jump soon or decline. These stocks including skinn.ob can be moved by small amounts of money tricking "normal" smaller investors into thinking doom or gloom.
Scammers will usually do one of two things. First, either they'll push the stock up a little to convince you to buy, then madly sell to you when YOU buy until they're "jacked" short. This invariably drives the stock down hard, at which point you're in trouble and they're made a tidy profit. Or they buy slowly BEFORE they send out the scam, and sell after the price rises when YOU buy. Both are illegal, although can be hard to prove. Note that these stocks often have very low prices - $0.06 is not an uncommon price, and some are even quoted to tenths or hundredths. That means with very little money invested, especially in a prop account (if the day trading firm allows trading pink sheets) you can pick up millions of shares, and make big profits on even a 2-cent rise in price.
Sknn.ob has had this fast rise and fall throughout the history of the company. Just recently if you have noticed I think there were some games being played in the "big boys" favor.
If you are like me and believe in the stock I would advise making your own judgments on the progress or lack thereof and not getting to emotional with the daily ups and downs of this stock. Most of us realize this is a high risk company but people whom invest wisely in risky opportunities are the successful ones.
Thanks for the post as I thought it was well outlined. I am a long time invester in Sknn.ob but a first time poster. Just thought I needed to jump into the world and let everyone know that I think this is the year for sknn.ob. The waiting has been long but the shoe imo is perfected and mass production and support can now happen. It has been frustrating but I finally believe our chance of success has surpassed 50%.
I don't know that "mass production" will ever apply to $150+ shoes, especially in this economy. Which is probably just as well given Skins' current financial position. Don't get me wrong, it's a great product idea, but the financial structure of the company, particularly the convertible and newly issued stock is as important as anything else. Good luck.
Thanks cigar. I hate to see people taken advantage of and turned off from the stock market so others can make a few bucks. It's not only morally wrong, it hurts all us legitimate investors in the long run.
Also, BB and PK stocks are not listed on a larger exchange generally because they do not meet listing requirements of size or structure. For example, I don't believe any stock with a convertible issue like Skins could be listed on a major exchange. Low volume of trades does not exclude a stock as I understand it, but it does mean that it may be hard to sell any quantity at a fair price. Since these stocks can't be shorted unless you're a market maker, there is also little incentive (beyond the PIPE convertible holders) to get the price down, but a huge incentive (for those who own the stock) to get the price up so they can make a profit.
I think you'll find most successful investors avoid micro caps. It's more of a game for those who either know how to play the ups and downs or who invest like they're buying lotto tickets - a small amount of money hoping for a huge (and extremely lucky) big return.