Do Not Buy Any More Shares...........This Morning's Fraud
Has anyone wondered why the stock, CDTI, never seems to hold any gain? Of course you have. Especially when we have witnessed two major announcements, Honda which will add 3 million units of production overtime, and Pirelli which will be distributing throughout Europe with a new 50/50 joint effort with CDTI. With the paltry backdrop of a $17.5 million market cap on $63 million in revenues. Have you ever really wondered why CDTI stock is not at $4 to $6 per share (market cap $28 to $42 million), well, this morning's tape action
will serve well to illustrate the fraud that we are up against. A full blown SEC investigation is in order. When the MM, working in concert with sellers are artificially keeping the share price down, and the market's
perception of the stock to continue upward after so many failures..............in lieu of the biggest announcements in the company's history, with the most important innovation in catalytics in 45 years?
This is what happened this morning. At 7:35 PST the bid ask was 400 @ $2.44 B, 3000 @ $2.48 ask. The last trade was at $2.45 (100 shares). So I thought to myself, let's check these market making fraud MF's out.
So I placed a buy @ $2.46 ($.02 over the current bid of $2.44) for 1,000 shares. Remember the ask was $2.48.
So for 15 minutes I monitored. My bid of $2.46 was never posted. I am with a major brokerage that has instataneous action. I watched in wonderment. But what did happen was a bid at $2.45 was posted for 600 shares. And some 20 minutes later at 10:50 A.M. according to the Nasdaq official site, a trade at $2.4767 for
200 took place (most likely the MM moving the stock while disregarding my 1,000 at $2.46, but posting the one at $2.45 for 600 shares. Please remember the original $2.48 sell was for 3,000 shares.
Here's where the fraud and game advances. My $2.46 was canceled. With the CDTI's last trade at $2.4767 for 200 shares, immediately an offer to sell 5,000 shares at $2.46 came in (last sale $2.4767), while bid was still $2.45 for 600.
My point: Everytime no matter how big the news, no matter how optimistic the value of the stock is being artificially manipulated by the MM & the sellers. My offer to buy at $2.46 1000 was never posted giving a false impression to the buying public. Who in their right mind offers to sell 5,000 at $2.46 immediately after the market maker bumps it to $2.4767. Now the 5,000 sell at $2.46 assures that the stock goes nowhere.....almost
$.02 below the last sale.
The entire sherade is going to the SEC with time documents.................
This is why CDTI is going nowhere. Someone is working overtime to paint a false picture of demand on the buy side, while artificially undercutting the share price process.
Also not forgetting the important announcement of the appointment of a Vice President to drive heavy duty diesel OEM sales in North America particularly with the recent announcement of the CARB and EPA verifications for the Purifilter EGR DPF technology. Together with the closure of the principal competitor, Cleaire Advanced Emission Controls, due to the failure of their LongMile DPF due to using an unstable metallic substrate and the cost of reimbursing purchasers or replacing the metallic substrate units with units using silicate carbon substrate at their own expense.
SPAN---two things---As a former NASDAQ trader I recommend to first contact your broker and enter a complaint with them---they should then initiate an investigate as to the route your order followed. I would ask your broker for a simple fact ---to which market maker your order was sent by your broker's order room. [ too much hand holding still in the industry betwen " Order rooms" and market makers.
Next, I would forward this information from your Broker re your order along with a formal complaint to the Nasdaq and NASD, with an advisement that you are also sending a file copy to the SEC of all you have sent them.
Frankly, and I have file similar complaints re NASDAQ stocks be manipulated over the last 2 years ----I would have had more success #$%$ up a rope!!!!!!!!!
1. CDTI is listed on the Nasdaq CM exchange. This used to be the OTCBB. There are different rules for showing the bid/ask there. You should should check them out before making a complaint. Try your experiment with 5000 shares and you will get a different result
2. CDTI essentially is an electric buggy whip manufacturer. Yeah the electric buggy whip is better than the manual one, but who gives a Fk
I admire your tenacity in this regard...but as has been mentioned several times on this board, we need two things to happen and the valuation discount will be removed...1) clean out the Marxe brothers so that overhang is gone 2) company needs to hit numbers and deliver more predictable results...I see the underlying asset value like you do, but press releases need to be turned into results...