Sonendo Inc (SONX)

[RichieBoy]

Bjarne might need more institutional support 🤔

That could explain why these fund managers could easily be accumulating. I'm convinced some entity is accumulating and possibly MM's are helping (that's pure speculation)

A stock price might channel, or trade within a relatively narrow range, before uplifting to a higher exchange due to several reasons:

1. Accumulation: Institutional investors or insiders may be accumulating shares of the company, leading to a period of consolidation and relatively stable prices before a significant move.

2. Market sentiment: Investors might be awaiting news or developments that could affect the company's valuation before committing to buying or selling shares, causing the stock price to channel.

3. Technical factors: Traders may be observing key technical levels, such as support and resistance levels, causing the stock price to trade within a defined range until a catalyst prompts a breakout.

4. Lack of liquidity: If there is limited liquidity in the stock, it may lead to periods of consolidation as buyers and sellers struggle to find a price equilibrium.

5. Regulatory requirements: The company may need to meet certain listing requirements or regulatory standards before uplifting to a higher exchange, leading to a period of preparation and consolidation in the stock price.

Overall, the stock price channeling before uplifting to a higher exchange could be influenced by a combination of fundamental, technical, and market-specific factors.