I'm fairly new to this and recently I bought a stock for a couple cents a share and recently when I went to go buy more their asking price went to about 2,000 a share? Later on during the week I went back to check it and it dropped back down to a couple cents why I companies do that? Is that them valuing themselves?
As folks have explained in the comments:
- The bid/ask prices are a natural consequence of market supply and demand; they are not determined by the company itself.
- So-called "penny stocks" are particularly prone to sharp rises and falls in price because they are illiquid -- i.e. there are few people trading them. So, for example, the next seller in line after Alice, who's offering to sell at $0.03 per share, might be Bob, who's unrealistically offering to sell at $2000.00 per share. If someone buys all of Alice's shares, then suddenly the market asking price is $2000.
- Penny stocks are also prone to pump-and-dump fraud schemes. These are sometimes even perpetrated by the companies themselves (or their agents) specifically because of (1): there's no legal way to control a stock price, so folks resort to illegal means instead.