Pinnacle Activity Ticker
Somethings not right here
I have seen a lot of companies lately signing MOU's and LOI. The ones doing it seem to be heading for .0001 on the OTC. There is a brief rally then more dilution it seems by the company and the LOI and MOU are soon forgotten.
Then of course a new wave of LOI's and MOU's appear with a different spin. I don't want to paint all of these companies the same but it seems like a repeating pattern for the OTC. Now I go and look at how long its been since they said something the same. Usually I don't have to scroll down too far.
I want to mention one company ARSC not long ago it had under a billion shares and was getting set to lanch its hydra fuel cell. Then money was raised and lost somehow and the stock started to tank. Every month a new deal for a buy-out or merger seemed to hit the wire and new money would come in and the float would grow. Then today I got an email that I should get on board because some new company wants to buy them out and bring in huge cash. I looked up the float and found its now 12 billion.
The only value I thought might be if the shorts actually are forced to cover. The latest Finra shows 7 billion shorts on the company with a trigger point of .0003. Its interesting to note though that the company traded 1.2 billion shares today and it didn't move. I think the lottery might be better odds tyhan this one.
Thats my thought of the day, just thought I would share.