Post by
Arbourmark on Dec 30, 2021 2:29pm
Daily Manipulation Continues
This has been happening now for a month. It involves the same houses day in & day out. CIBC and Anonymous continue to trade via dark pool and at times 30% of daily volume traded via dark pool. This is not normal in my opinion for a stock that trades less then 100,000 shares daily. Dark pool trading was created for institutional traders to trade large blocks of shares to prevent spooking the market but that is not the case here. CIBC and Anonymous trades 100 share blocks via dark pool.
One would think with Covid-19 cases exploding and Arch fully funded for phase 3 trial waiting on Health Canada approval to commence the trial that share price would have held $5 or continued to gain and stabilize at levels that other phase 3 companies are market cap wise.
We hit a high of $5.30 and today we have hit $3.48 this is a 35% pullback. Daily Volume is consistently low due to tight float held by insiders.
The science is sound and the future is bright but it is gut wrenching to watch this slide 3-5% every day with whipsaw swings knocking it lower by 10-12% on a few thousand shares.
Comment by
stocksarefun on Dec 30, 2021 2:42pm
Anyone speak to investor relations? What's the deal??? We need a timeline on HC approval to start. Is it weeks? Months?
Comment by
Arbourmark on Dec 30, 2021 2:52pm
The last time I looked the reported short position was about 12,000 shares. I suspect someone is betting heavy that ARCH will flop. The fact that insiders hold large position I suspect it is naked shorting that is happening here. It will take just a few positive news releases that will destroy these shorts.
Comment by
stocksarefun on Dec 30, 2021 3:06pm
I'll be watching closely for this report tomorrow