Part of me wonders if the company wanted it to get under a penny post merger announcement so Execs/Insiders/employees could load shares.
Thursday watching L2 mid morning CDEL put up an ask wall at 5 or 6M at .1006 they were trying to load shares. A long was trying to maintain the support at .1005 imo so they immediately bid 7M at .1005. If was a standoff. CDEL then showed 151M on the ASK at .1006 very briefly...like less than 10 seconds. CDEL was gonna win and drop it 30%. The bid of .1005 was immediately taken down. Then CDEL likely did a market order triggering stop losses and the stock dropped to .0065 or so and a TON of shares were exchanged. Accumulation on this day was huge. Retail investors got taking to the woodshed. I bought as many as I could between .0065-.0097
Clearly they were trying to drop it to cause panic and buy a ton of cheap shares and they did. Then on Friday people wanted shares. Were these people likely employees who know what’s coming and wanted more? No idea.
But the quick drop post merger completion and the action yesterday is telling.
I have no doubt in my mind we are over a Nickel this week.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.