What Is Elio Stock Trading For Today?

It would be nice to know exactly why the stock went up. Was it someone trying to inflate the value? Was it a fool? Perhaps all of the above? Without good news from Paul Elio, this stock is going down, it's just a question as to how far and how fast.

Made in USA said:

It would be nice to know exactly why the stock went up. Was it someone trying to inflate the value? Was it a fool? Perhaps all of the above? Without good news from Paul Elio, this stock is going down, it's just a question as to how far and how fast.

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Hard to know, but I'd guess someone was selling stock to themselves. This stock doesn't jump 47% on no news with just 3,000 shares traded. It was all for naught though, it is sliding back down today.
If you own a thousand shares, you can at least get something for it. For those with huge blocks of shares, they may not ever be able to sell at any price.

IMHO, it's worth remembering that ELIO is a lightly traded penny stock. While these stocks are easily manipulated, there is no solid reason to see manipulation behind every trade. "Never attribute to malice that which can be easily explained by stupidity." With the large spread, fluctuations in price are not going to be unusual.

If a trader accidentally hits "buy" at market, instead of "sell", there is a 40% change in the stock price. I wouldn't take any of the fluctuations too seriously. The trend is obvious.

It has been manipulated several times before, usually for a two week period. Will know if it goes up end of the day. It is a lot of effort just to try to make a couple hundred dollars

No trades on Thursday and only 28 so far today at $1.25, which is where Wednesday ended.

Made in USA said:

No trades on Thursday and only 28 so far today at $1.25, which is where Wednesday ended.

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A brilliant defensive move. Buying just $35 of stock strategically limits your downside.

The volume has been up a bit for the last couple of days, but all the trades have stayed within the old spread of 1.00 bid - 1.25 ask. The spread got as narrow as 1.00/1.10, and is currently at 1.00/1.20.

My take on it is that the price has temporarily stabilized before the next downturn. No strong opinions on how long "temporarily" is, but would guess a couple of weeks, perhaps a month.

So far today the price has been dropping. I think sellers are having a hard time finding buyers and the price will quickly drop because of lack of buyers. I'm still looking at below $0.75 today. Might happen. Last I looked it has dropped to $0.95 (11:00 EST)

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Question here... Could you use Elio stock as a way to trade and pay for things? Let me explain this question a little. Lets say I wanted to pay Made in USA for some carpentry that he did for me and shipped to my house. Could I have him buy Elio shares at some price, say $2 each and then I could put in a buy for $20 each for, say 100 shares? He'd have a sell order in for $20 on his 100 shares. I'd be buying his shares for $2,000 effectively paying him for the secret door bookshelf he carved from a fallen red oak. Of course, he'd have to pay taxes on it but if we were using this stock as an intermediary to conduct some kind of illegal activity, this could be a way to legitimize his earnings.

Just a thought. I'm sure there's some logical reason why this wouldn't work... I don't think I would be buying HIS shares, for instance because I'm sure someone has a "Sell if it gets to $20" thing set up. Anyway, I'm not thinking clear enough. (and, this would probably be illegal anyway)