Efficient market theory doesn't work at the small speculative end of town - that's why there is money to be made down here by doing research. Mathematically crco is one of the most overvalued options around in the sub-$50 million m/c resource sector.
This could mean that someone with inside info is buying up without wanting to affect the price of the common stock, but that is the only way these are good value at anything more than 2c. And looking at the market depth it doesn't look like many people are interested.
I could name dozens of better value options in the same category, on companies with equally good upside potential. I will if requested but won't of my own accord as I don't want to appear to be cross promoting.
The market does get things wrong, I see it all the time. A belief in efficient market theory is one of the most toxic misunderstandings, and is why most stockbrokers, economists and others that have studied related topics in mainstream education are no good at making money in the stockmarket. Accountants are the exception in my experience, as they pay attention only to the numbers, not to dubious economic theories.
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