My take is a bear raid was attempted and the vast majority of the shares traded were among market makers attempting to create the illusion of volume. The purpose of this effort was to create fear among retail shareholders and to use that fear to pry shares out of the hands of shareholders. The effort failed.
The market makers are in a quandary. An argument is made by many that the financial system allows massive amounts of shares, relative to number of shares outstanding, to be shorted. The contention is over the past several years this has been the case with JBII.
Others contend the argument of the existence of naked shorts is false.
I am in the first camp and am convinced of the existence of the massive naked short position.
The commercial validation of the third processor is at hand. That means if the naked short position is real, it must be covered as cheaply as possible and very soon.
I believe yesterday's market action was a charade to create the appearance of selling on high volume. I expect they will try again.
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