Surprise..surprise! This is the fourth time a sell-off occurred along with SEC filing. So what is the big deal?
On Nov 7th with the news release of an 8K stating LOI, Market opened and closed at .2. On the same day PPS rose to .25 and dropped to .18 on 3mil shares traded. That's a heck of a buy and sell-off.
On DEC 3rd,SEC filing of an 8K stating Entry into Material Definitive Agreement came out. PPS opened at .25, went as low as .22 and closed at .23. Do you see a pattern here? Oh...to your surprise!...there is more.
On Jan 22nd, the company came out with a 10Q. We all remember a 5 cents PPS decline from .22 to .17. As painful as it was to see that happen, the stock immediately bounced back up.
And yesterday after the 8K came out PPS dropped from .24 to .21. Surprise!!!
If you were shocked by what happened yesterday, where were you for the other three times the stock acted terrible?
In addition, out of the 660K shares traded, 43.13%(280,600) is from naked short selling.
All in all, this has become very common with this stock. There are pro traders that scalp and profit from amateurs like me. Watch out! This alone is not big enough to worry about.
Best of luck! May the lord give you patience for you have invested monumental money, time and effort into this stock.
