Movement Industries Corp (MVNT)

[chemist72]

My analysis of what happened regarding yesterday's fall.

The action took place over a period of about 2 minutes. During the first part of the sell-off, about 70K shares were sold from 0120 to 0115. Then during a 1-minute period about 857K shares were sold from 0101 down to 0064. There was a gap between 0115 and 0101 where there were ZERO trades executed. During the next minute about 776K shares were traded between 0064 and 0065 (if my memory is correct there was ONE big trade of over 700K shares during this time, however I can't confirm this from the 1-minute chart I'm using to draw these conclusions).

I'm assuming all the selling was from one individual, who for whatever reason decided to unload all (or most) of their MVNT shares. They started slowly with about 70K shares, but when they saw the bid support disappear, they probably decided just to sell the rest ATM (at the market). Of course, with such little warning, retail investors could not fill this order, so MMs had to step in and buy those shares all the way down to 0064. Of course, for the remainder of the day, retail was trading about 1.2M shares between 0078 and 0093. MMs were also likely unloading shares that they had purchased during the plunge to 0064 at a handsome profit.

Unfortunately, retail didn't have much of a chance to purchase many of those shares (if any) between 0064-0065 because of the short duration of this action.

Now it will likely take several days to repair this damage and for MVNT to climb above a penny once again. -imo