More shares on offer makes the stock easily manipulated, and also makes sp gains slower and harder to keep.
Think of it this way, a stock with 100mil shares on offer, once divided between directors, instos and long term investors etc. there’s only a smallish amount that can be traded on the market, meaning less supply on a good Ann meaning easier large gains in sp price. Compare that to 1.5bill shares on offer, there is a ridiculous amount of shares able to be traded on a daily basis, and many people holding millions/tens of millions of shares. A couple big holders get good profit and dump their shares and the sp gets a big wack eg. the pump and dump that’s happened twice over. Although pump and dumps aren’t rare, take a look at nearly every penny stock on the asx and the charts look similar in ways to QBL’s, don’t be scared off by the chart.
QBL Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held