It certainly had quite the interest when it was running gapping up and running over $4 with almost 250 million shares traded. Add all that action with a float just around 30 million and it looks impressive. Stock with small floats that get this kind of attention trading their float multiple times over brings in the day traders big time. I was in and out fairly quickly myself.
Then I like to see if there's any meat on the bone worth hanging around for when the dust settles for a longer, more solid position. It takes time for a stock to settle, especially after being pumped like this one was. Don't get me wrong, had Red Cat disclosed the details of the NASA deal this may have found a new base pricing in the deal. But, did we see any such details? Nope. So, when I saw that the CFO was trading in his options and holding the shares, I found that interesting. But it appeared that the market (and long time shareholders) didn't even flinch. So I put this back on my watchlist to see if the gap fills around 2.40 And I'll keep an eye on it as well. Best of luck to you, maybe I'll be back in this one soon. I'm more of a swing trader than a long term shareholder.
I'm certainly not a professional trader, far from it! I'm more of a technical / chart trader.
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