yes, I would call going from .20 to .01 a downward spiral
There is no question to what has happened here as far as share distribution the past couple months. No one besides MM's and a trader could have any type of prearranged buying and selling.
PPS jumped up last summer and since we know most longs did not sell the 10's of million of shares to the buyer then who did? It was MM's shorting (selling to the buyer)
No interest to hold up the PPS so it drifted down (along with more MM shorting/selling)
MM's who shorted need to cover as well as build an inventory of shares to sell to new buyers
The TA is gagged which tells you ECT was raising capital (not to mention my email reply)
That professional trader/broker needs to sell shares
PPS sat at two different levels which tells you there were probably two different capital raises at two different prices
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