This recent downdraft to the upper 50 cents level has assured the players at large that there should be a significant supply of selling shareholders when the stock begins to move up again. I'd bet that many within the retail shareholder base who have had visions of making millions and buying castles when the stock hits $10+ will now be selling out of their position sub $1 if they can claw back 20-30 cents from this level before pulling the sell trigger. This has been torture for many, and the human mind can be a fairly predictable thing when it comes to money.
This is how many algos and the AI behind them work, and why the folks that write the algos make big bucks. The players involved in driving this selloff do not even need to take the stock much lower (which they may very will still try to do) to have accomplished much of their goal with the poor and extremely weak trading of late. Moreover, IQST has refused to provide a process status update on their IBank hire, which continues to frustrate me beyond words - especially when they've inferred that they may already have one under contract. One of my other concerns is that someone (from the short crowd) places a call to nudge a delay in the OTCQB uplist being granted to further drive concern and fear in the market.
I'm optimistic we have good news coming, but the market is working against IQST and many other stocks just like it, so they need to do more to help their own cause in this environment. Otherwise, this challenging period may continue for much longer than I had originally hoped, and there continues to be little evidence that any of the potential naked short selling which may have occurred within IQST's trading has been addressed in any meaningful way - something, which if true, the Company could fight using a couple of different tools if it was so inclined. As a material shareholder, I know I am 100% inclined.
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