There is stock action and there is trading action and they are really two different things. On the one hand, the stock action is a mixed bag today and the price could be a natural reflection of that. The 10Q was not pretty and some people might be selling off their positions because they are focused on financials and are seeing the trees instead of the forest.
On the other hand, we are now getting reports that people are seeing positive structural changes in the app's user base and popularity. Something that implies that a huge groundswell has been building ever since the JLO announcement and the release of her amazing video (something that keeps growing by a million or two viewers every single day I might add).
In addition, we are also seeing foreign celebrities starting to use and promote the app (without compensation as far as we know of) and third party statistics that clearly suggest users are also expanding worldwide. That would explain why shares are still being gobbled up and why the support levels have been so strong.
On the trading front, there have been unusual patterns of activity surrounding this stock. I'll be honest, it does not usually bother me a whole lot because it often happens around companies with no future. This one is different boys and girls.
This one has the potential to be a unicorn and change the very world we live in. Therefore, I personally think that if you spot suspicious activity, you should contact the appropriate authorities and let them decide if anything illegal is going on. Honest traders have nothing to fear and even ones who think it is a waste of time should not be concerned with a little oversight as it protects their investment as well. IMO.
