why isn't my WGAS selling?
I own 1,000,000 shares in WGAS. I bought them for .0001. I was trying to sell them yesterday when the market was .0002. Unfortunately, no one bought them? I never had this problem before... I buy stocks and sell them right away.
Yep, someone has to buy it. Think about how many sellers may be in front of you trying to do the exact same thing. Hope it goes through soon for you though.
Just a heads up WGAS is in the process of doing another reverse split.
http://www.sec.gov/Archives/edgar/da...701_def14c.htmThat makes sense! I did little research on reverse split, it doesn't seem like this is going to help much. Isn't this going to make the company look bad? therefore hurting the price share(event though it went up).
Most OTC's that do reverse splits are dilution machines. These companies are broke and the only way they can raise money is by selling discounted shares or convertible notes to financiers. Those financiers then sell the shares into the market to make their money. This will drive down the price of a stock no matter how much potential the company has to succeed. This is called Toxic Financing and the only ones who win are the financiers buying the discounted shares or convertible notes.
Considering WGAS did a reverse split less than a year ago and it's already at .0001, this company is hurting. Last time it was 1 for 10. This time they are trying to do 1 for 50. Meaning you'll get 1 share for every 50 you currently own.
.0001 flippers can be fun to gamble on, but in no way should one expect to make a consistent profit trying to trade them everyday. There's to many people trying to do the same thing and you run the risk of getting stuck in a reverse split.