My guess, in regards to the selling, it is coming from some long time holders of MPIX. You cannot believe how many times the former leadership of MPIX made promises and then delay after delay took place. Like many, I just kept my large position and was pleased to learn I was in the black a few weeks ago thanks to the latest news.
I am sure profit taking over the past few weeks is the selling you are seeing. With that said, the volume has not been that great so there are a number of old timers who probably are keeping a good position in the stock. As with all penny stocks, we need to see a lot more volume come in.
In the last update, it looks like the merger partner wants to do some due diligence of the last management group of MPIX and if they left so issues behind. Probably a smart move. If that hurdle is cleared, we all will be smiling as the merger partner will probably go ahead with the merger.
