Not sure how many people here are traders, or just stuck bag holders and/or legacy unicorn theorists, but an important note as to how this has been trading for some time now.
If you trade often and have level 2, it's fascinating how many trades go through between the nickle tick zones.
For example, if it's trading between 1.10 and 1.15, most trades go through at 1.125.
If we take the market nickle program regulations and policies as real and honest, one would assume that trades would not be able to go through in between the nickle ticks. However, most of the trading for some time now, at least this year, has been occurring in between the nickles.
Retail common folk can't buy it or sell it in odd numbers, unless they place market orders, rather than limit orders, in the hopes that the trade gets filled at the odd price.
I trade in and out of this often, and have experimented by placing market orders, and they have never filled at the odd prices like 1.125, so my assumption is that most of these trades going through on a daily basis are institutionals selling to each other, because most of the trades are occurring in between the nickles. They are being told by their clients to trade within those ranges.
This has been happening at all price levels.
Why is this occurring? Could be a plethora of reasons, but it seems that at every level, the price is not allowed to run hard in either direction, and it is locked and bracketed via making sure the trades that go through are in between the nickles.
Why is this happening?
From a factual standpoint, we know that institutions hold most of the shares, retail is a flea on the back of the gorilla.
Which way will they take this?
The last quarterly report shows the forecast of an acquisition happening down from 90% to 50%.
It would be interesting to graph out the shorting of this ticker dating back to January. I believe the money masters KKR and C, have been paying themselves back, and this ticker should be back to .75 by end of year.
A simple view of the weekly chart shows the severe trend down.
However, they're doing it slowly, like a vampire bleeding it's victim over a long period of time so that the victim provides blood for the longest possible time. Take too much blood at once, and it dies too quick. But, it will eventually be dead.
