The fins show improvement, but not the improvement people were expecting. Whether you agree or disagree with people's interpretation of the financials is irrelevant. The market already reflected this.
Additional reasons for dropping could include:
- Some people's strategy is to just sell on news, regardless of what the news is. These are usually the flippers.
- A lot of stop losses could have been triggered this morning as we dropped considerably
- When people see everyone else selling, they panic and try to unload their shares before the value dwindles even further.
- When shorts see the price dropping, they can take the opportunity to profit, which can drive the price further down.
Claims of manipulation, true or not, don't really matter. That is just part of the market environment and should be accounted for when placing any trade. There are definitely some times when market makers seem like they are pushing the price down, but market makers are only a part of the market; investors have control too.
If you think about it, there's not too much of a reason for market makers to push the price down when they can make money on both the upside and the downside. Why go against the momentum?
MYEC has continued to rise for over a month now and there have been so many claims of manipulation along the way. Somehow, the stock price gets to where it needs to be, once again proving that "manipulation" is just part of the market environment.
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