Spec money is new money coming in, they are speculating on the COVID news and that more news(good) is coming. Legacy shareholders selling are investors that have been involved a long time and are tired of waiting any longer and are using the new found liquidity to sell some or perhaps all their shares to get capital back. New investors are buying in the 50’s is what I’m observing. The fact that you ask the question tells me this stock might be to risky for you. Penny stocks are high risk, I hope you’re aware of that fact.
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