From what I understand... whoever is selling all these shares below the bid, I`ve heard that is a third market print. Since RPC debt was exchanged for 20 million shares equity, whoever took the offer is now dumping those shares to hedge and institutions below the bid at a discount as to not crush the price of the stock, other than dump at the bid and crush it hard. So in a sense whoever is dumping is being helpful keeping the support and price in this range. Soon imo we will discover the reasoning for this and I think its good.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.