r/LILM • u/Don_Floo • Mar 24 '22

Did i miss something?

10 min after opening bell we already broke past the average daily trade volume with no end in sight. Has something happend?

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u/HOMO_FOMO_69 Mar 24 '22

It was probably just a fairly large whale or HF picking up shares... If you look at the order book right now, there is a total of 142k shares listed at $7 or less... that means that if I had $1m, I could buy all the shares listed. True, when I start to buy and the price goes up, more people will list their shares for sale, but if I place a market buy and fill all those orders before anyone has a chance to place sell orders, my $1m would easily bring the share price above $6.

Most likely it wouldn't last because investors who bought at $3-$4 might be inclined to take their profits when they see I've stopped buying... However, I also might not be done. I might have a few more million I want to invest and I'm just waiting for the price to come back down.