I’m searching for the reason or logic that is behind recent trading activity I’m witnessing. XXX, trades as a OTC penny stock. I have shares that I bought through my regular brokerage account, just as anybody can. XXX is trading at massively high trading volumes now for months, with little to no change in share price. Typical every day volume 333,281,908 shares. Several days with nicely over a billion shares traded. XXX’s web site states that there are 10 bil shares outstanding. One last reality, the stock price has plummeted over these months. At .0001 per share during the massive volume period. My question is: How, with only 10 billion shares outstanding, can XXX be so actively traded at this volume and why would XXX sit at the same price and trade billions of shares, when all press and reports about the company are positive?
My take is that somebody is deliberately swapping shares, huge chunks at a time, at ridiculously low prices to keep the stock price down? Why go to the expense?
