Piker? ROTFLMAO. The account I was trading MNCS in is my "play" account (hence the bulletin board lottery ticket I was holding). This thread just keeps getting better.
The controlling market makers could just as easily picked a lower price, it is obvious they can put it wherever they want it at all times. Perhaps they want to keep it over the magical $5 for margin and exchange listing reasons.
Interesting, the "expert" on this thread, stock777, says it's because: "Shares in the name's of people that know nothing about it."
What are you talking about? This stock was first brought to the attention of ET on February 26, 2005, http://www.elitetrader.com/vb/showthread.php?s=&thread=45869&highlight=mncs here's the chart that was posted: http://www.elitetrader.com/vb/attachment.php?s=&postid=694656 See the price? What part of: 6.05 less (between 3.33 on 2/06 and 6 on 7/06) don't you understand?
Thank God you guys got out...it was a cheap way to learn a lesson...seriously..im not being a prick..
Those boys will be working extra hard to make their stock options work. What was the allowed purchase price $4.50? This thing is far from over.