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Re: bucweet34 post# 173404

Wednesday, 07/07/2021 6:08:39 PM

Wednesday, July 07, 2021 6:08:39 PM

Post# of 232969
Most of the dump happened in the last hour. About 1.1 million shares in a short time. Likely a few big sales from a few individuals rather than a general market panic among longs. There was sell pressure earlier in the day slowly building and testing; but a decisive move at the end.

We lost 6% of the price (1.62 -> 1.52) when only ~ 0.14% of the float size (1.1 mill shares out of 800 million+?) got traded. It suggests that the price got pummeled by a relatively small volume of trades while most are on the sidelines waiting for news and getting harassed by fear of the wait.

I am thinking however that it was honest transactions of some people wanting out and not a deliberate attempt (of shorts etc.) to manipulate the market price. Can't tell. We have to see if this sets the ball rolling for further sells from other big pockets in the coming days and to what extent that diminishes the price. The other concern (if the support break did not happen by short attack) is that shorts may use this support breakdown as the right time to jump in a coordinated attack in the coming days - i.e. price manipulation may follow.
Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
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