VCTY, another pick of mine from early last year, had 105 million authorized shares at the time. The stock traded 88 million shares the first day I made it my pick and closed up a little over 100%. The following day it traded almost 50 million shares and closed up 35%. In two days the stock traded 150 million shares, yet the authorized shares were only 105 million. The outstanding share count was likely even lower at the time.
weeThe stock held its ground for a few more sessions trading between $.0025 and $.0015, but traders did not lose their patience. I noted several times on my blog about different reasons why the stock was not going up.( You can read about one of them here.
You can also do a search for VCTY on this blog to find more about the 3,000% run it had earlier this year.)
Investors kept accumulating shares and their patience paid off as VCTY went on to post another 1,000% gain from that secondary range.
My point is with a defined number of shares in the market accumulation of those shares will eventually send the stock significantly higher. If you look at IGSM's recent trading history and compare it to the share structure and 199 million share float, there are many similarities with VCTY. It is hard for traders to be patient with these penny stocks. This is the main reason why most of these stocks have a difficult time maintaining price levels. Market makers know exactly how to get people to sell including taking the bids out with exact precision. Maintaining pressure is the easiest way to win in this market.
Here is IGSM's chart after today's close. I'd like to put it next to the VCTY one posted above at some point in the near future and marvel at their similarity.
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