I believe it tanked for several reasons.
1) There were 2 companies I believe that each had a large number for shares that they dumped that week. (The shares were restricted for 6 months). Huge supply, little demand. Price went down.
2) The PR gave the impression that FDA approval for HEMA was 2 months(best) to 8 months(worse) when most people were expecting it any day.
2a) The company seems to be tapped out. Since the delay, people are wondering how he's going to get funds to continue day to day operations. The fear is dilution.
3) Longs saw PRs on the same days that there were "3rd Party" promos going on and that seems fishy.
Well...those were my concerns. The MMs I saw just kept the price artificially low on the first day (Huge wall at .0038). I think the sell off was from the frightened longs and the companies with tons of stocks to dump.
1) There were 2 companies I believe that each had a large number for shares that they dumped that week. (The shares were restricted for 6 months). Huge supply, little demand. Price went down.
2) The PR gave the impression that FDA approval for HEMA was 2 months(best) to 8 months(worse) when most people were expecting it any day.
2a) The company seems to be tapped out. Since the delay, people are wondering how he's going to get funds to continue day to day operations. The fear is dilution.
3) Longs saw PRs on the same days that there were "3rd Party" promos going on and that seems fishy.
Well...those were my concerns. The MMs I saw just kept the price artificially low on the first day (Huge wall at .0038). I think the sell off was from the frightened longs and the companies with tons of stocks to dump.
