Absolutely false. Refer to the trading after the HUGE news of FDA full body approval - uptick, then crash, due to flippers and 'tight fisted longs' selling with 'cause'. Stock now at .0005 - exactly 1 tick for each of its 5 FDA clearance.
Share structure matters, and impacts trading on multiple levels. BIEL trading patterns and activity are exemplary examples.
Bullshit. Supply-Demand. Non-SEC reporting stocks trading on the pink sheets lose out on a huge number of institutional investors and many individual investors. Lower demand for BIEL shares, the printing of billions of shares = lower demand and greater supply = pps in the toilet and trending lower.