Not true. The removal from the Russell resulted in a 1 cent decline from the price 2 days before. Then, when the Supreme Court announced they were passing on the SQNM case, the plummet below $1 immediately started.
Removal from an index is advertised long in advance and market makers and arbitrage specialist set up in advance for the change, so that the actual day results in low volatility.
If a drop is needed before a recovery (I've never seen this discussed on any trading website before, so I'd like to hear where you have heard this from so I can research), perhaps we can drop to 50 cents, and then rise to 60 cents.
Bottom line, Sir Marty has been dead wrong on SQNM for over 5 years, and shows no sign of having a clue this year, just like any of the past 5!
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