In my current book, a character reads the mind of someone, and gets information about a company that is about to be acquired.
It's a penny stock, and in this case it's value is 1 cent.
The mind reader knows that the stock price will jump dramatically the next day.
I'd like to have him purchase $10,000 worth of the stock, but I'm guessing that's not possible (too many shares).
Is that correct?
How many shares could he likely purchase?
I'm basing the the jump in stock price on this story:
Gateway Industries is a success story spawned by a black swan event. Gateway Industries "provides database management services and Website design and maintenance for national not-for profit, healthcare and publishing entities." The company traded for 1 cent a share and was not known to be an extraordinary firm, even within the penny stock market. The company had one employee, its
CEO, Jack Howard, and did not seem to be particularly special.
However, on Feb. 11, 2011 it was announced that Robert F.X. Sillerman would be acquiring Gateway Industries. The announcement was completely unexpected. Robert F.X. Sillerman, a world famous media entrepreneur, needed a company such as Gateway Industries in order to fulfill his vision of facilitating interaction between television viewers and shows. The effect was instantaneous: Gateway Industries' stock immediately jumped over 20,000% to $2.97 a share, a move based on Sillerman's reputation alone.