What do you guys think about this one? its says it has 2.5 million o/s, but today announced that the chairman is going to cancel 4 billion shares and volume is at 338 million, heavy trading...what does canceling the stock mean? this stock had a reverse split back in november and changed the name of the company...any thoughts would be greatly appreciated
Posted by metal1 on :
Whithout even looking at it, just based on what you wrote i would say it is junk/scam/garbage.
Posted by KingCon on :
thanks, how do you know what a garbage otcbb stock is? how do you know if its diluted?
Posted by KingCon on :
thanks, how do you know what a garbage otcbb stock is? how do you know if its diluted?
Posted by metal1 on :
red flags = reverse split, canceling shares any many others.
think about it logically, if they are a sub penny stock, means they don't have money (among other things) . they pay for everything with stock. when they 'cancel shares' and don't have any money, means they will be issuing more shares shortly to cover operating expenses, if they even have an operating business to begin with. pretty simple view i just gave but just remember that most of these sub pennies are scams and only trade on hype and you can make some money