Whoever was selling yesterday they hit the bid with 500k shares in the am. One trade accounted for 1/2 of the volume yesterday. I'm not saying I know if that was NW but whoever it was they were not trying to limiting their selling to 10% of the volume, that is certain. They suddenly took out all blocks down to .18 on 500k shares. The bid bounced back pretty quickly but it took all day to equal the volume that came across in just a few minutes in what obviously was a single sale of 500k shares.
The earlier part of last week somebody was selling large 100k chunks. They were restrained in that they would not sell below .20 but they were clearly selling a lot of shares, no way where they limiting themselves to 10% of the daily volume.
Again, no way to tell who the seller(s) are, and they are not selling all day long, but no way they are restraining to a low % of the volume. It seems more like 50% as far as I've seen when watching closely. And all things considered, the demand for shares is far from getting killed.
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