Replies to post #55714 on Sunergy, Inc. (fka SNEY)

[mikeymgd]

Thank you for the reply.

I was curious if PP holders were removing the legend more than whether they were selling.

An increase in the float is considered rather bearish on stock so removing legends could on its own create a little downside pressure even without selling.

I respect your position. If I had plans of sitting in the stock for years I would likely do the same.

[coloradoKid]

Mikey, My guess, and it is only a guess, is that the sell off is from a vendor(s) who provided goods or services last year for restricted stock and is not trying to pay their supplier(s) and need some money. Keep in mind that the debt settlement placements were valued below the current price, so, said vendors got a really good deal. They are bailing because they need cash to remain solvent themselves.