My theory based on similar drops in many other sub $3 stocks is that the huge drop in oil, gold, other commodities, has triggered waves of margin calls, and these small non-marginable stocks get liquidated first, as they go the farthest (100% of sale proceeds) to meet margin calls. The whole scene is a kind of 2008 redux, in small stocks recently. And a big fight in Congress and over interest rates coming up as well.
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