BTW I REALLY don't know where that 1.11 close came from yesterday ... it was certainly out of left field.
Made no sense and the stock wasn't even trading at/near that price;Just look at a two day chart and it is clear that the bid was 1.14 and then BAMM 1.11;I thought it was a cheap shot by someone to control the price and make it look like the stock wasn't going to get out of the ghetto!!
A person could say that last trade should have been cancelled as it was 3 cents off the bid.Just didn't make any sense;If I had done a market order to get out right at the close I would have been bitching about it but then if you do a market order you lose your right to complain I would suppose! That trade certainly wouldn't have been a limit order ,at least I don't think it would.
It really looked like a painted close for some nefarious purpose ... that being said PFIE is finally starting to stretch it's legs so I guess wide swings could/should be expected.After all it has been awhile since the stock has had any volume of buying/selling and has been stuck in a range much lower than it should be ,in my opinion.
As well you have a lot of peeps that may have bought back in NOV. anywhere from 1.10 to 1.43 and looking for a chance to get out with"less loss" ,plus others in the way of institutions or people like Limpert who are no longer with the company and then you also have those who were smart enough to load a lot of shares below 1.00 and are taking 30-40-50% gains and being Happy with that.
I know it took about a year for this stock to crawl down to current prices from its high of 5.89,although I don't expect a return to nearly the 6.00 level,very quickly ... I would expect a move back to the 3.00 level fairly rapidly as long as PFIE continues their ORGANIC growth of increasing customers,a return to profitability by getting more orders from the added customers and new product development ,as well in their case new USES for products they already have.
Organic growth is the process of business expansion by increased output, customer base expansion, or new product development, as opposed to mergers and acquisitions, which is inorganic growth.
ALL that being said it wouldn't surprise me if they test everyones metal and take the beech back down under 1.10 just because they can.(I'm not expecting it ,but wouldn't be surprised because anyone can push this stock around with a little chunky cash)
They certainly Fugged with traders emotions/greed yesterday by closing at 1.11 after being up .12-.13 cents throughout the day! LOL! Maybe there was no reason behind it whatsoever but for anyone who was watching closely it was certainly a slap in the face of traders/longs etc.
It's all spec -o- lation ... anyones guess and I'm probably over-analyzing the whyfores!!
:-(
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