Illest, it is either short sellers looking to scar
Post# of 11899
Illest, it is either short sellers looking to scare buyers away with a phony wall of borrowed shares piling up on the ask, or actual real sellers, or accumulators. The scenario of real sellers piling up on the Ask is unlikely because the stock is in an uptrend and we are still very close to the 200 DMA which is probably very close to the cost basis for most of the new short termers in the stock; its hard to imagine that flippers would be gambling so large of blocks in such an illiquid speculative stock like RFMK, but I guess its possible, even so though, flipping a few ticks for 10M shares is kind of reckless in my opinion so in my mind it decreases the odds that this is what is going on. Higher likelyhood is that the piling up on the Ask is by short term shorting manipulators like MMs who are gaming incoming retail bids, business as usual, get daily lunch money. Another possibility though is that a large buyer(s) is accumulating. This seems counter-intuitive, but often a large buyer will snap up about 10% of the stock just to walk it up a few ticks and then put it all on the Ask to create a short term wall (threat to buyers) so that it has the chance of giving them time to keep the price suppressed while they load up. The reverse happens in the market as well sometimes, where shorters will actually short a little bit and put gigantic bids in and let traders wade in to the pool thinking it looks like the stock could break out any second and so they all get in over time but the shorts are shorting all of their bids and then once all the little fishies are in, the big short drops the floor out from under everyone and it tanks as they short the main bulk of their to-be short position. The daily action is just typical tactics, I would concentrate in strategy for the long-term in RFMK. I think by Q1 and Q2 next year RFMK will be soaring along with the other MJ stocks out there.
GLTY
$RFMK!