Looking back at the tape, I see very little that looks like dumping. Nothing that approaches what we were seeing 30 - 90 days ago.
The smaller volumes of rapid-fire selling look to me like sporadic, VERY-small scale toxic bill paying. At 2:14 EST, for example, there were 1.7m shares @ .0015. That's probably someone that MYDX owed $1,750, so they were issued stock that netted out to $2,550. Nothing major, and certainly not hundreds of thousands of dollars of toxic stock that will drive this down to trips. It'll take a little while to get these smaller bills converted, but they are just background noise at this point. Of the 75m shares that traded today the toxics were a tiny, tiny percentage. And after a bump like today I think that if there were many out there, quite a few would have taken advantage of the higher PPS and converted.
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.