per Odessa,
Quote:Sometimes I express my thoughts in shorthand, and it results in confusion rather than clarity (for the reader). I'm going to expand upon my original post below, hoping to achieve better clarity.
Within the first minute or two of trading, the share price had popped to .01 (on tiny volume), yielding more than a 50% gain from yesterday's close of .0065. So although the trades really did occur, the price action wasn't quite authentic (it didn't pass the smell test).
That percentage gain, combined with the increased number of postings and reading of posts, most likely caused many people to take notice of GRCU, and investigate to see what was going on.
Since the price had already moved down significantly from the .01 high-of-the-day, it would appear to anyone not watching the individual trades that the pop would not be sustained, because it had already pulled back so significantly. Meanwhile, the reality was that after the anomalous first couple of minutes of trading, the stock was actually performing rather well, moving steadily from the mid sixes to the high sixes to the low sevens to high sevens.
So for someone watching all of the trades from the start (like me), it was obvious that there was a steady uptrend, with very good volume, beginning 2 minutes into trading. But to those who simply viewed the summary of the action, where the high-of-the-day was .01, and the stock was currently in the low to mid sevens, there would be no sense of urgency to buy shares at that moment, because it would appear the pullback was rather significant from the high of the day, and perhaps they would have an opportunity later at a lower entry point.
Without a sense of urgency to buy in at that moment, it allows GRCU to fall back down until it finds its price support. And while that process is occurring, it opens up an opportunity for those looking to accumulate more shares (or cover a short position) by temporarily killing the momentum. BTW, if I am correct about the strategy, it appears to have temporarily worked.
Sorry for the long winded explanation, but I hope it does make my view of what happened a bit clearer.
As always, simply my opinion.
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