No institutional support? Its not a guaranty but I bet they are buying and that is why the PPS sank. When they buy, they don't just place market buy orders. The take their time and they load the ask day after day. The average Joe that may be up 30+% decides he doesn't like the sell interest and sells his shares.
What happens over time, the PPS sinks and the shares being sold are the accumulated very quietly. One institutional is in. They dipped their toe but they are in. Institutions don't have to report their activity right when they buy. They are simply required to report quarterly. In other words, if they are buying over the course of a couple months, they don't have to report until 45 days after the quarter ends. That gives them the cover of the dark of night. The more aggressive ones will short a stock to begin the knock-down process. When do they do that? If they want to buy in, they wait until volume slows and they prefer to time it during a non peak season. The beverage industry's typical seasonal high point is Q2. It all adds up. Rule #1 is buy when there is blood in the streets. I think that is what the smart $ is doing. I know I am buying and hopeful of even better prices.
PLSB's fundamentals have not changed so its not like bad news drove it down. IMO the future is very bright.
AI
