You are right. Any selling in the .03s was probably profit taking from those that bought at .02, or under. I've seen some fake runs in my time, but this was very impressive. Pure speculation here, but here is my take:
We all know there as a big meeting of shareholders about a week ago. The idea was to get together, discuss, and raise some money. The timing is impeccable that the rise in PPS started a couple days before and after the meeting. Now, the volume was not very high on the days where the run started. In fact, I'd say the ask was so thin that it took only around 1 million shares over those few days to get us to .04. 1 million shares at a very generous average of .035 would have cost someone $35,000. One must spend money, to make money right? Funny how that meeting generated about $250k or so from what we have been told. I'm sure based on a solid promise that the rise in PPS would continue...and it did...right up to .04 before the buying stopped.
A few unluckly believers thought it would keep going and bought at .04 during the morning yesterday. You could tell it ran out of gas around 10am and the profit takers jumped at it. Now, if the run was real, there is no chance we would have dropped below .03 today. Support just vanished.
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