As with many low float stocks, this one is no different. Many traders want the big score in just a few days, sometimes in just a few minutes. Impatient traders probably should not trade stocks like this imo.
Low float stocks are very volital and usually must have a catalist (as with most stocks) to help the stock price go higher, (good news, good rumer, filings, merger news, outstanding revenues etc...) and if there is no catalist, impatient traders may want to recapture there money back as quickly as possible and move on.
Only a few ways to do this. AON (all or none) which normally isn't and option because filling an AON takes to long and I'm still talking about impatient traders.
Sit on the current ask with a limit order (which may or not come and could take awhile and usually regret selling when the catalist happens).
Sit on the bid with a limit order and hope they can sell all the shares they have bought. (MM's normally only fill partials and drop the bid, and when the bid drops, must continue to drop their own bid till all their shares are filled)
Put in a market order, which at this point is in the hands of the market makers which can take it down to astounding lows trying to fill all the shares. (A great way to pick up cheap shares for the strong hands BTW as the share price usually comes back and then they have more shares at a lower price. Good job Masked Superstar)
The latter senario, (imo) has happened for a few days now and may continue as more and more traders find this very speculative play. New traders especially. (I know, I used to do the same thing and with some stocks still do. lol)
If your a trader that can flip the highs and lows of this particlular stock, more power to ya, your a better trader than most.
This is all my opinion and no way a suggestion to buy or not buy.
As always, g/l to all and don't ya just luv the low floaters!
flip
