Warning Model Management Inc. (OTC BB: WNMI) opened $0.003 on 03-23-04 closed $0.012 +300%
The stock was a classic news winner with one exception.
The exception is that there was a ton of shares traded the few days prior to the release. This will normaly lead to large sellers into the news resulting in lower prices at the end of the day. I would have expected this.
The reason it didn't happen in my opinion is that there was so much hype over the Paris thing the seller(s) were mostly bought out by the .004 to .005 level. And so it ran.
Then the daytraders took charge.
The reason it was a classic winner in my opinion is that..
If you watched the " quote request leaders " before the bell it never showed up. Flew below the radar of many till after the open.
The news was out well before the bell so that some could be prepared.
The news it's self was headline making stuff in venues other than the business world. Entertainment tonight could still do a story on it.
Low float of about 140 million shares. Low Market Cap.
Once the markets opend and trading started we saw a small gap and lots of buying.
All the above said:
Good news...
Low Float & Mkt cap...
Low volume trading in the days and weeks before.
Small interest or buys at the open.
Small or no gap in opening ask price.
Can and often does equal a BIG winner.
What do you think?