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Sunday, May 30, 2021 6:54:53 AM
The company clearly stated a reduction in shares and while under normal circumstances what u are seeing would likely be the conclusion you reached ,that imo is not the case here. The method which the company used to remove the shares from the float is not known I myself posted many times about ASCM being the culprit and my or may not have been wrong. The company also stated the future reductions were forthcoming and imo are continuing as we speak.
It is easy to draw a negative conclusion which is usually 99% accurate under normal circumstances, but this is not a normal event. What we may be seeing is inpatient shareholders selling small lots to chase shiny objects ,(creating oversold condition), then buying back in or longs scooping up additional shares on the dip, (reversing oversold condition).
People are definitely trading on the news cycle and selling into the news. The significant nuclear bomb will be acquisitions. Everyone here knows that. All other catalysts here will just amplify the result of that move. Till then, price and volume will pop and decrease on news until those are announced.
For the most part the market has severely discounted the appointment of a very capable CEO and additional appointments,(shockingly I might add). It is clear that the market Is awaiting valuation to be added and nothing else will move price out of this channel till that happens. Everything else has been done..we wait.
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