I hate to be a conspiracy freak because you will almost never hear me talk about shorts, but....
Two MMs were just pounding it today. They could have easily raised their sell prices and got way more as blocks were hitting them. They could have sold in the .60s easily. Yet they were pounding the .50s
Smells like either...
(1) Shorting? Naked shorting does exist but they usually have to cover within 3 days or something to keep it legal.
(2) Somebody with a big position trying to punish the stock at his own expense because he or they are emotionally distraught?
or....
(3) Amateurs selling who commanded their brokers "liquidate me" so the brokes have no choice but to pound it.
Maybe a combo of all 3.....probably won't matter. There's going to be some big money coming in shortly scooping up anything for sale IMO
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