MMs likely are working for insiders who are instructing them on how to manage the conversions- lenders who were given millions of shares at rock bottom prices, like .001 or lower want to sell their shares NOW.
Depending on just how many millions of shares must be dumped, MMs will be dumping hard into every uptick until the conversions are finished.
Good news, like a filing could cause some upside volume (unless it is “sell on the news”) but without news PCTL will head back to .05 or lower, I believe.
The recent rally to .0789 should have taken us past .10, but the dumping was relentless. And at the very end of the day MMs still had a ton of conversions, so they dropped it hard and closed it near the LOD. After that it has been mostly dumping for the last 2 days following the rally.
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