With its average dollar volume of around $9,000 and without a hint of any kind of business besides the raising of capital over stock sales, ATPT stock was an easy manipulation target. Following the rapid gains on the numerous alerts, sent by one single stock promoter between September, 21 and September, 23, now it looks like ATPT shares can easily hit their par value of $0.0001 each.
ATPT consecutive losses seem thus even more painful and disastrous, but only for those who bought on the alerts and thought the stock is to be held for longer than a few days. As of yesterday, they could have lost all of their invested money. The stock dropped by 45% only during yesterday’s trading session, and the total value gone since the last trading alert was sent is almost 100%.
Yesterday, ATPT closed the session at $0.0033 on nearly 116 million share volume, marking its absolute bottom for the past 52 weeks. That trading activity implies that 86% of all outstanding ATPT shares of common stock have changed their owners yesterday, and nearly 34% of that volume has been reported as short sales.
With the alerts still bringing enough of ATPT buye
rs to the market, the massive shorting continues this week as well. Most probably, it was the main cause for the share price rapid surging up at the end of last month and now it seems that the over 300% gain of the shorters was a total loss of some newsletter subscribers.
Moreover, shorters got even temped to short without borrowing the shares or covering otherwise the positions, an illegal practice known as “naked” shorting. Last week, ATPT stock appeared on the list of “threshold securities”, which is published daily according to SEC’s Regulation SHO. That list contains stocks, for which sellers failed to deliver 10,000 shares or more in the past five trading days and the level of “fails” is a minimum of 0.5% of the shares outstanding. As of last Friday, ATPT has been for six consecutive days on that list.
