Thursday, July 11, 2019 1:19:38 PM
There are a large number of people holding massive positions in very cheap shares. They sell on the way up they sell on the way down.
Sometimes they even short this from a second trading account.
People on this board should take the time to read all the filings back for a few years.
Company may have turned a corner and could turn out to be the goldmine people on here desperately want it to be, but that doesn't change the fact that this is setup as an insider/connected enrichment machine and those with large blocks at 50 cents and below make money selling into any volume.
I missed this last run completely because I was swing trading it and closed out a position at $1.10. Then there have been no shares to short available through my brokers for a couple of months so I've missed on that side as well.
No skin in the game at the moment but if this keeps getting pummelled I will take a look at the long side in case it bounces.
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