It’ll be tough for KGKG if volume dies down. Especially now that they’re selling shares via CFGN. We currently have 6 MMs on the ask at $0.0320 or lower.
The addition of this apparent dilution without any type of positive company news/updates has obviously made an impact on share price.
I have the same views as Teslonian. There are indicators or clues people need to loom for. Both of us were hoping to see YA (note holder) show faith in Kona and not instantly unload shares and kill any stock momentum. Sadly, that appears to be exactly what they did though starting late morning on the first trading day of 2021.
I’m still betting on RC to get Kona back on the right track, but the early signs of 2021 with early dumping from the new MM with big t-trades and/or block trades showing up on each the first two trading days aren’t exactly what i would have been hoping for. Clear cause for concern and even closer monitoring of L2.
They teased these early 2021 updates pretty hard. If they fall short, could be a nasty sell-off. But if they truly are big definitive material announcements, then this is just a bump in the road and should be fine.
TBD
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