I would say some big swings in the next few days, followed by some sideways movement - a run towards 5.00 after that - may take some time. This is a repeat of what happened in March - in general common with all stocks that run (or rather, spike up).
Regarding a 'blood bath' - that was inevitable. Anything that runs up 5x - 6x so quickly has to correct itself. The MMs thinned out the ask seeing so much retail money pour in to prepare for this raid. What happened was a bit more than correction - MMs beat her down real bad - plus too many 'wannabe millionaire' weak hands were there in this stock.
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