Every astute trader knew that this would have pulled back to 1.90
The level where the private share sale was done. And a 45% retracement.
Traders will rebuild positions next week at 1.75-2.00 before next leg up.
The only thing that worries me is the overall sentiment of small cap stocks in the US.
On a positive note: Media companies fare much better than others during an economic slowdown. CPNE has a strong balance sheet, and 1st qtr is seasonly the strongest.
Buying at these prices will practically assure you of a double in the next few months (all else being equal).
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