Replies to post #13159 on Solar Integrated Roofing Corp (SIRC)

[Cleveland12]

I'm right there with you on this!

On a 1 month chart this is sitting beautifully on the 50 Day MA, but does it move north or head south for the 100 Day MA at $1.3229. We'll soon find out tomorrow!

[creakyhottie]

Trip Trap and All

Could it be that the market is anticipating an offering? The company is actively seeking acquisitions and will need cash (even if acquisitions are paid for part stock/part cash). So many companies are doing these offerings as their stock prices have risen. One company I followed, AYRO, did 3 or 4 over the last few months.

Typically the stock price will fall to just about the price the offering is made, and then eventually recover. The market usually looks at these with initial displeasure, as there is dilution, but as SIRC will be looking to use it for acquisitions, it should recover quickly.

Just a thought.