Blue Biofuels Inc (BIOF)

[brooklyn137]

No news that I know of. If you look at what happened yesterday and today it looks strange. Yesterday someone dumped a couple of hundred thousand shares in the first ten minutes. Today, a million. After that buying took over. This is strange behavior. It is unlikely that this is several holders who decided to sell at once, so it was probably a single seller. It could be someone just tossed in the towel of course, but it also could be something planned.

If it was a single holder tossing in the towel, he or she almost certainly knows no more than we do. He or she might have been forced to do it for financial reasons, but otherwise it is strange behavior, a million and a half shares at eight cents is 96k, even less at six cents. Voluntarily taking that kind of loss doesn't see reasonable under the circumstances.

If it was intentional, what are the possible reasons? One, they do know something want to accumulate shares. Could this be a modern form of running the stops? It could certainly induce panic as it has. But why panic? We all knew this was a speculative play when we got in. Nothing has changed, but the human brain is, as one author said, predictably irrational. We do get emotional when confronted with loss.

There was just a buy for 500k shares. Since the first ten minutes about 1.5 million shares have been bought. Maybe it's working.

JMO.