The Investing Game
Posted by OtterMan on Sat, 12 Jun 2021
$5K - 52 Weeks - 20 Penny Stocks
Current Status (-$2,598.83)
Week - 17
Of Mice and Amoeba!
I’m endlessly fascinated with the unseen. Electrons! Can’t see them, almost can’t even find them. At best get a pretty good idea where one is. Ah but get a whole bunch of them moving around in a sort of chorus line symphony and there you are listening to Hip Hop on headphones riding home on the subway.
WHEN: Monday June 7. Current price is $0.0007! I find some surprise in several aspects of this stock. First, that it is possible to trade at all at that price. Second, that anyone would consider buying a stock at this price in the first place. That stated, at the halfway point of the trading session there are just over 62 million shares traded. If my operation of a calculator is correct it translates to somewhere around 43 thousand dollars and some change. Upon first glance perhaps this was just one single large transaction? No, following up a short while later 400 thousand more shares have been traded. Just under 300 dollars.
I have used a technique in past trades I refer to as “Piggy-banking”. Lacking a better word, when making a more serious trade I end up with spare change. I will piggy-bank the leftovers to a small value stock much like dropping spare change into a jar in the kitchen. It worked with a company named Ring Energy, symbol: RING. They drill a hole in West Texas dirt and pump out oil, it doesn't get anymore basic. They were scuffling about in the 40 to 50 cent range while I was buying 5 to 20 shares at a time. Oil went back up, it came back up. Currently trading at $2.63, I’m up somewhere around 400 percent. I did good for a small but persistent input.
Maybe that’s what’s going on here. If so, there are an awful lot of people out there “Penny Jarring”! (edit) Finished the day at 78.45 million shares traded, or roughly 55 thousand dollars exchanged. In an odd sort of coincidence this week, my 55,555 shares of WHEN dropped exactly $5.55 leaving $44.44 remaining! It’s like witches are running the OTC board...
Mind Medicine (MNMD) surged to the top of the leaderboard this week with a superior $44 gain! Nice work guys. I would be very pleased right now to once more have at least one position in the positive column. This could be the week! My previous multi week leader, FUAPF, made a nice gain as well this week and clawed back 4 spots.
I notice the top 4 spots are occupied by stocks traded on major exchanges. MNMD & HITI have both uplisted from OTC to NASDAQ and are doing well. XPL & GPL are both listed on the AMEX board. This leaves IQST as the OTC pink sheet leader in the number 5 slot.