Ralom, your post reminded me of an article I saw recently about the 9-10c range. Thought I'd post it here in case others find it interesting, seeing as PYC may now be operating in that range - though punching straight through seems likely - and preferable!
GLA
Why I Hate 10 Cent Stocks - Kerry Sun - Market Index
The order book for any 10 cent stock usually looks something like this:
- Buyersat 10 cents – 4,591,395 shares
- Sellersat 10.5 cents – 7,401,301 shares
With both sides so stacked– The stock does absolutely nothing for a very, very long time.
One of the big problems with 10 cent stocksis that they move in 0.5 cent ticks (so every tick is worth ~5%). But when the stock trades sub 10 cents, they move in 0.1 cent ticks (so every tick is worth just ~1%)
Why does this matter?Picture this scenario:You've just set the parameters for a 10% profit and 2% loss (excluding broker fees).
- Place a bid at 10 cents and wait to be filled
- The bid gets filled and you place a sell order at 11 cents (or 10% profit)
- Set a stop loss at .98 cents (or 2% loss)
Even if this strategy works once and you get stopped out four other times – You're still profitable!
For that reason, you’ll often see stocks like Aurelia Metals ping pong like no tomorrow.
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Last
17.5¢ |
Change
0.005(2.94%) |
Mkt cap ! $816.5M |
Open | High | Low | Value | Volume |
17.0¢ | 18.0¢ | 17.0¢ | $224.4K | 1.287M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 29999 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 772055 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 285826 | 0.170 |
9 | 341707 | 0.165 |
7 | 228758 | 0.160 |
9 | 261634 | 0.155 |
11 | 325853 | 0.150 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 772055 | 7 |
0.185 | 1347656 | 11 |
0.190 | 552000 | 7 |
0.195 | 570577 | 7 |
0.200 | 1021264 | 7 |
Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
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