Traders taking profits...this is a trade at the moment...not an investment that you sit on. Trade it...be nimble.
That's how penny stocks work...up on news, people get in at the start of the day and then take profits in the afternoon...like clockwork.
Wait for next news release...rinse and repeat.
Study them ( pick a penny stock or two ) and just watch them for a few months. Their normal trajectory is down and every once and a while news will come out and you will see a "speed bump" in the chart where active traders who are lurking in the background swoop in and ride the high and get out VERY quickly...this is when the stock goes down.
It's fun if you are Jack Be Nimble with your trades...otherwise it's painful watching your share price drop with hopes that it will appreciate again.
"WISH" and "HOPE" are two words that should not be in a traders vocabulary.
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