Pretty simple,
Apparently, Share Holders of every stripe are willing to trade (sell) shares at this level. Those that were handed blocks, those that bought "last" week, those trip longs. The company has little sway over that.
You've probably seen me opine this previously..
The "Race to the Bottom", where in each seller undercuts the current ASK to peddle their holdings first. Concurrently, the bid moves down making a spread.
For the price to rise the ASK will have to move up, stay united, and force the bid to come to them.
all In My neophyte Opinion of course.
I have a buy order in that would be new LOD. Hopefully the sellers come to me, and then stop the low ball selling.
GLTY, Niczar
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