Everytime news comes out someone takes the opportunity to lower the ask...People getting in at dirt cheap prices. That's cool.
What about dedicated longs? How are they rewarded? They see nothing but a decline in price. The newer traders think they get in at perfect prices. And either A) Get fed up and impatient and sell for a loss once they realize this isn't going to be a quick flip, or B) When the price does finally start to rise they flip for little gains, ultimately making it harder for the price to rise and gain traction.
It's frustrating as hell...
So, whenever I see buys like this, that's cool. It's good that more people are getting in. But when there are buys like this on a down day...It makes me think what's going to happen when this price does rise. Will the people who bought lower start flipping at ~.0175 or are they going to go long?
Not many people go long on penny stocks.
In the long run, this will more than likely turn out to be a success story. But short term it's so damn frustrating to see this kind of nonsense happen.