The logic is not right, if the price is $1.00 and people are buy at $1.05 and sell at $0.95, that 5%, not 1%
Personally you should look at penny stock and see what happens to them after consolidation. most of the time they end up like my example below and this is a real case that happen in the last year.
I bought in a stock for 1,000,000 shares at $0.002 so spent $2000.
They consolidated 20:1 so my stock become 50,000 shares at $.04c
Since consolidation, the shares have dropped and trading at $0.010 so my shares are now worth $500 today.
before consolidation the lowest it could drop was $0.001 meaning if i sold at the lowest tradeable price, i would only lose $1000.
Now after consolidation, the SP can still get to $0.001 meaning my share would be worth $50.
consolidation are good from some prospective and normally for new shareholders wanting to buy, it is generally bad for the ones holding.
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Mkt cap ! $57.86M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
33 | 34246267 | 0.2¢ |
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Price($) | Vol. | No. |
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0.3¢ | 532779829 | 231 |
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No. | Vol. | Price($) |
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251 | 1016981218 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
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0.004 | 276795262 | 104 |
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