The firsbee trading is done to create the illusion of shareholders participation in the selling at various price levels.  

As I have mentioned before, the vast majority of shareholders at this point have strong hands, having been through the meat grinder for a decade, so most weak hands have long ago let go.

This makes the stock price highly sensitive to any buying pressure.  So a new investor interested in taking a large position cannot do so without sending the stock price flying, well before acquiring much.  

The new deep-pocket investor, I'll call "Newmont", would have to "scare" shareholders into selling.  How do you do that?  Volatility, notably precipitous price drops, or long grinding walk-downs.  To engineer volatility you nead to control the market -- clear the Bid/ASk deck of a wide range of Bid/Ask orders.  Piece of cake with CUU, for years no one really is selling and really no one of substance is buying.   Again, imo, very thinly traded stock in strong hands.  

Generally correct that the frisbee shares do not by themselves change the direction of the stock.  Again, just an illusion of participation to lure you into joining in. Its the minuscule 'real trades' intersparsed amongst the frisbee flurries that change the direction of the stock.   

I used to occassionally jump up and snag frisbee shares by hitting the Ask to see what would happen.  The frisbee tornado would be turned off completely for a while since I "stole" the acquirer's shares and I suppose they had to re-assess.  After a time the tornado would whip back up at a higher price level.