Yes Wayno, you called a pre R/S selloff.
However, what happened today was one Big seller came in with 520,000 shrs and eventually the SHTF........because......I believe this seller started selling to WHATEVER the Bid was.......as the bids were taken lower and lower.
I don't believe today revolved around those who were alerted by their brokers about the "proxy" statement which was distributed to brokers and contained most of the information in the 10Q of 3 wks ago.
The MMs started taking little 10,000 tranches because the Seller was meeting them.
They started to smell blood and just kept lowering the Bids as the seller kept selling at whatever the Bid was.
Again,this is what happens when the trading is so thin. We had no trades for 4 days!
As the Bid tumbled from .01 down into the 7s it appears some Retail buyers were found and a couple of larger sells were made until we hit the 5s when the full 520K was finally extinquished.
The question is: WHO was this seller?.......a vendor cashing out?.....smart money/third party who doesn't like the way the roll-out is going?........the company generating expense money?
They were willing to sell at any price...........which is scary.
It is somewhat encouraging to see a million two being bid in the 7s.
Hopefully, that means someone is still willing to bet big on ICOR.
One week from today we get the R/S.
I hope it is backed up with good news..................
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