I did see that on PCMI. But I don't think a fund selling 73K shares would really weigh that heavily on a stock that's trading 100K shares a day.
Don't get me wrong--there's plenty of micros on my screen that have sat out this huge recent market rally. But mostly because they trade a few thousand shares a day at best. PCMI has the buyers. Just don't understand the relentless selling pressure. And understand even less who would short this in the $8's. They really see a lot more downside? Why? Shorts on PCMI have been right on so far.
And like I said, the chart looks so weird. PCMI hasn't had a day with a 10%+ pop in months. Looks like the last 5% pop was in September. That was over 4 months ago. This during a market hitting one record high after another. I just looked at every other stock in my portfolio, and PCMI is the only one to have flatlined like this for so long. Because the sellers/shorters are camped at the ask. Why we don't know.
Wish the company would step up to the plate. They were eager to buy back shares at $13. Why aren't they boosting the buyback in the $8's? And where's the insiders? Even buying a few hundred shares would be SOMETHING. Don't they have any confidence in the future of the company?
I'm still holding a decent position. But haven't been buying more because of these concerns. Now waiting to add into strength, if there ever is any. I'm not a TA pro like some here, but that chart looks about as tightly wound as I've seen. If some positive news did kickstart a move higher...PCMI could cross $10, $11, $12 etc very quickly imo.
AI
