Before Friday, there is no way possible according to past volume and the chart that this was ever front loaded. If anything there will be some strong resistance above .50 from current shareholders looking to exit if they want out. But front loaded plays always have huge one or two day volume spike before any news or updates are released.
This is not the case here. Friday's volume came after news came out and people had time to read through the filings. I missed entry Friday because the market closed before I could finish my DD because I did not see the news that came out in time but I have been in stocks before that just sat a day or two before the market took notice and stuff above a penny doesn't react like stuff in the double .00's or trips. But ESSI definitely has my attention now and is on my main screen to keep on radar at market open.
But whoever decided to take a position Friday based on the current events imo also noticed that entry Friday has been the first opportunity all year to take a nice size position well below the yearly avg pps.
The progress of the company over the last month or so has really taken a nice direction and holds enough catalysts to draw some good attention.
As far as retail buying, its obvious VNDM was selling shares into the market, but according to the current o/s minus insiders shares, there shouldn't be many shares coming into the market right now. VNDM showed up right before the stock started cranking some volume and looks more like someone wants a little more liquidity before any big news comes out. A stock that fluctuates with 200 and 300% gaps is not an attractive stock. But with more shares available, that gap should remain a lot tighter now.
A breakout Monday is more possible than not. I just hope it doesn't gap so I can get in around .15
Sobek is a non-professional individual investor who may own, not own, buy, or sell stock at any given time in any security ever mentioned in posts. I never accept compensation in any form to post. Always consult an investment professional when investing.
