Apr. 24 at 7:45 PM
$CHUC @DonutHole Yesterday: 1.2M shares traded, closed at
$0.27 — nearly 15x the average daily volume of 84K. Today: 800K+ shares and the stock is at
$0.248. Two days of historically high volume and it still moves like a penny stock with no floor. I’m not sure about the coincidence but this IS the argument for the uplist. Institutions don’t let 800K shares on a
$60M market cap company dictate price like this. My personal view is that they go greater than 20:1 on the split. At current prices a 25:1 lands at
$5.50, a 50:1 at
$11. Either gives real cushion above the
$3 NYSE American floor. The proxy wasn’t an accident. The volume isn’t either.
$CHUC $MO $BTI