Rennova Health Inc (RNVA)

[Bidsmaker1]

Patience is the key for RNVA. The sheer number of shares in play will slow the progress of RNVA upward momentum. Anytime this amount of shares are available in the market flippers and MMs will turn the shares over and over again. Even on very high volume days the PPS will not be able to make significant upward gains. This will not change until one or more 10Q/10K or other positive news supports very high volume value buying by MMs for longer term holding to maximize gains. That's when shareholders will see RNVA trending up. Most likely we will see MMs gap this up once or twice then target stops to gain control over shares once again. Meanwhile, watch for short term retail profit taking at these levels.

Of some interest is the currently very high volume trading combined with naked shorting. It appears MMs hit their floor pricing in the last several days and began buying to run up the price followed by naked shorting to keep the pricing down at these levels.

With this stock in particular we saw significant naked shorting prior to the last shareholder vote. I believe MMs knew in advance they would be receiving the shares otherwise they would not have risked a short squeeze. It will be interesting in the next several weeks to see if we have a significant increase in the OS just before and after the upcoming 10Q and possibly news.


Know what you own. You have to understand MM tactics to win in this game.