Again - the overwhelming majority of penny traders are dreamers. They dream of being a millionaire on a few thousand dollars of investment.
When they buy low and then watch a little pop in the price? They don't sell. They only think of how RICH they will be when it's dollars a share, instead of pennies. So INVARIABLY, the average investor of penny stocks doesn't sell for a mere profit. They want the 20, 30, 50 or 100 "bagger"!
So they hold onto it.
And then watch - as it dribbles back to around where they bought it (or...inherited it).
Bearish