ONCM had a strong base when it was just a shell at .0008, waiting for news. I remember the board, and there were peeps accumulating quietly, despite months of silence on the merger front.
I don't imagine those people are selling most of their position. Generally, shell players hold for the full ride.
So, I believe that puts a limit on the downside.
Yes, it did seem that people were holding, and below a certain PPS, accumulating more as well. Shares were hard to get the other day, and if it began to run again on news, I don't think people want to risk being entirely out.
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