XpresSpa Group Inc (XSPA)

[Rainmaker80]

Arper,

No we missed it! But it appears as though only 1000 shares took the price from 1.41-1.18 a bit ridiculous actually.

Another mentioned that this could have been MM's or the 'gamers' attempting to take out stops.

My guess is that was indeed the case. When you see a flash crash like that on so few shares it is quite odd and certainly not 'normal'.

I feel as I have said all along the shorts are indeed trapped as they cannot exit without moving the stock price materially to the point where many shorted ($3+).

One simply has to look at the depth on the ask and do the math. Reality is no longs are selling in size at these levels, and clearly even lower as the price bounced off that raid very quickly, within seconds. Shorts may indeed have time on their hands as we know of nothing 'imminent' in terms of catalysts, but that can also change quickly.

That being said, an attempt to take out stops is not because those who need to cover feel confident, it is realization that they can't seem to cover otherwise / at a profitable point.

I suppose there is no catalyst we can 'see', but that doesn't mean there isn't one coming does it?

;)

Good luck to all Longs