They opened it where they did because of where the Aussie market closed it yesterday. They closed it at .024 AUS, then factor in the roughly 30% exchange rate compared to the U.S. dollar, which would put the closing price at about .0165 U.S. They reacted like they did based solely on the Aussie market's closing price. The news was not well received there and in turn, gave the MMs all the ammunition they needed to gap this down 80%. We'll recover some here in the coming days. Nothing but a delay and the market reacted like this was being de-listed or going into chapter 11. Reversal will happen in time but today will be a write-off. Going to churn between .016 and .02 all day, IMO. Tomorrow, when the Aussie markets pushes this back up to at least above .03-.04 area, the U.S. market will gap this up tomorrow and recover more with some strong buying, IMO. It does take a while for the sentiment on a stock ticker to change......but it will.
PokerStar
News 
Market Data 
Discover 
AI
