I'm pretty sure the quick drop today was stop loss
Post# of 30066
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Posted On: 12/19/2017 7:01:27 PM
I'm pretty sure the quick drop today was stop losses being triggered. Looks like millions of shares were traded in 15 minutes or so, so I don't there is any other explanation. Most of the buyers the last week have been short term traders- probably a lot of them put in stop-losses. We were at 7 cents 3 days ago, so to think there is any other reason for a stock to nearly triple in 3 days on no news is delusional.
I was certain we would see a big sell-off after a run up, but surprised that we ran to .20 and even more surprised how fast we dropped. I thought we would be lucky to see 10 cents before a tender exchange is competed, so I couldn't believe we ran all the way to .20. My prediction is the volume will drop off and and we'll stabilize- hopefully at 10 cents or so, but who knows. I still stand by what I posted a few days ago which was deleted and that is the stock will drift all the way back to 3 cents if a tender exchange is not announced in the foreseeable future. But I do thing we will see an announcement soon and once that occurs the stock is worth 20 cents on the low end- possibly as much as 40 cents.
I was certain we would see a big sell-off after a run up, but surprised that we ran to .20 and even more surprised how fast we dropped. I thought we would be lucky to see 10 cents before a tender exchange is competed, so I couldn't believe we ran all the way to .20. My prediction is the volume will drop off and and we'll stabilize- hopefully at 10 cents or so, but who knows. I still stand by what I posted a few days ago which was deleted and that is the stock will drift all the way back to 3 cents if a tender exchange is not announced in the foreseeable future. But I do thing we will see an announcement soon and once that occurs the stock is worth 20 cents on the low end- possibly as much as 40 cents.
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