It's continually making lower highs and lower lows. That's "what".
Look at a 3 month chart. Understand what it means. Know what a trend line is. It broke the 200 DMA twice in less than 20 days or so. It's touched the 200 DMA twice now in a week. It came within 1/10,000th of a cent (today's low was .0201), of breaking the 200 DMA avg again today, on the high AM vol. It opened down, not even at the previous day's close.
It breached the 50 DMA about 2 months ago, and has not come even remotely close to re-testing it, or even approaching it. It's DOWN TRENDING, which is a pattern of making lower LOWS and lower HIGHS. It's NOT a "one day" event. It's a trend.
It's been the majority of it's vol DOWN on high vol days and only "up" via small, $500 or similar "closing" trades like today. The vol has been dropping off significantly. The days it's traded down, are on higher vol, than the days they "walk it up" on a small, "up" vol, single trade like today.
It's also been "flat lining" - it's sits, many times a day now, where a single trade doesn't cross the "tape" for 30 minutes, often an hour or more. This is known as becoming ill-liquid.
If one can't read or understand the fundamentals of a solid down trend, via looking at a basic chart- there are many good books available or web sites that can explain how to understand, "basic" technicals.
A "trend" or "trend line" is NOT based on a single day's close. It's called a "trend" for a reason. Use at least a 3 month chart. Or, if the total collapse wants to be seen- then look at the peak of .08 on March 1st- 3rd, and the subsequent massive collapse, to now essentially 2 cents. A LOSS of about 70% or more, in about 3 months. THAT is a down trend and a solid one at that. As in LOWER HIGHS and LOWER LOWS for 3 months straight.
For all intents and purposes, it's a 2 CENT stock again. It's as simple as that.
