Hi
IMHO it is really the trading activity that attracts day traders and has little to do with the float.
Look at NAG...SMI....and all the gaspe gas plays etc
Day traders are all over the place, price is secondary...their goal is buy lower and sell higher.
They want fluctuations.
If SPQ was trading at $15 no one one care about day traders.
What I want is price that, over time, is trending up and I'm sure the day traders would be OK with that too
The shorters want the opposite