The short interest in this POC is miniscule as of AUG 31, 248k shares only 1.4%, therefore you will have very little buying by short covering. granted this could have increased since the huge pop this week.
BUT, because the stock is "hard-to-borrow" ie very small float, the shorts are going to be PROFESSIONAL traders, not retail, because retail do not have easy access to borrow shares unlike PROS. The only buying will be the greater fool of the retail crowd, the institutions will be dumping their small stake as well I'd imagine. This will drop like a stone to UNDER $4.00 by next week, I guarantee it!
This is not an American Company, it is an RTO (Reverse Take Over) do some research. RTO's are the scammer way for chinese companies to enter american markets without a lot of eyes peeing at them...and scam some capital from foolish investors.
doesn't matter what is reported, This RTO will throw numbers over from China that it thinks the street wants so that they can dump the remaining lockup shares... DUH!!!
"don't let them to make this"? translator broken or something...? Valkust, you are obviously a Chinese shill for this company, it doesn't help #$%$'s case any to have obvious, bad english trasnlating shills trying to support this worthless piece of garbage.
Hear that...it's the fat lady singing... IT's OVER
Where do they get these names?!?!? Yahoo won't even let me post the ticker symbol in my comments, because YAHOO even knows what it means!!! it is an absolute In your face to sucker investors who are buying into this fabricated company that is saying in it's ticker symbol #$%$
As institutions have very little interest in this Fraud, they will be closing out positions as it is not worth their time to ferret out whether or not it is worth the gamble, no playing wait and see. Shoot first, ask questions later, particularly if their stake is SMALL... which it is.
Because this is an RTO, you have to look behind the curtain to see what is going on. The Insider Selling of the American officers pre pump is not the smoking Gun. This is a Shell Corporation for a chinese company per the RTO merger, it is controlled by the Chinese fellas, and I would Surmise THEY (the Chinese officers) are the real instigators of the pumping scheme to unload their stock at the end of the lockup here.
I would imagine, the reason Spencer was selling DAILY for the first 2 months of the year, DAILY, is that there was so little volume, he would have crushed the stock price. It would make sense, if you know there is a shady deal going on and you held a lot of stock, you'd HAVE to sell slowly, like every day, in order to not #$%$ the market in such a thin stock at the time. the rest of these guys are gonna BAIL very soon i would imagine.
As for Jim Rogers, this is an insignificant stock holding for him. He has no clue what this company is really up to i'd think, they are just paying him to get his name on their business, and he is a big China Bull, and likes to promote China.
Jim Rogers has Billions, this stock is chump change to him. He probably doesn't even know what the stock price is on it, nor does he even care...chicken feed
But you didn't sell, and you are regretful... you are now HOPING for it to move back higher, hope is not a trading strategy my friend, take your profits first thing Monday...It is setting up to be a doozy, All markets are going to open sharply lower on Monday AM...mark my words It'll freak you out how right I am. you ask, how'd he know that, there wasn't any news of any sort when I posted this... JUST WAYCH
show us some Documentation of such brokerage statements... then we'll believe you. Until then.
i told you mkts were going to be off sharply today (see my prev reply from saturday)... dow futures off 100 pts sun evening... monday is going to bite if you are long this stock... shorts have this one pegged below 4 this week... watch 'em!
wait for the open, and retrace to slightly positive, just under $8 and short the living daylights out of it!!! I got my locate on shares to short..have you?
Hmmm, closed below $8, that's strange, with such big news, you'd think this baby would rocket, no? It's as if the price was being CAPPED...right at RESISTANCE. The smart money is using this bounce to add to the short position...CAN'T YOU SEE!?!? It gapped right into resistance and no higher... SELLERS ARE IN CONTROL, they allowed in just enough hope to suck is some fresh blood buyers on the long side and weak handed shorts.
This is just a retracement on the continuation down, it just happened a little faster than normal because of the reinsure news, expect by end of week back to the lows then a break below just before earnings next week.
WATCH AND LEARN