Regenx Tech Corp. C.RGX

Continual Daily Selling is Gone

[BigGrayCat]

It is interesting that the continual daily selling that drove the price of RGX down, down, down over the last several weeks stopped about the time the latest financing deal was announced.  I'm not talking about "Mr. 1000 shares" as Rancher would call them, but the moderate sized sales that were continual.

Yes, there are reasons to sell.  However, I am reitering something that I suggested a few weeks ago regarding potential selling reason.  If you knew or had pretty good evidence that another financing deal was upcoming, and you planned to participate in a large way, then it could make sense to manipulate the stock price down.  Doing so enhances the financing deal terms to the participants (by virtue of the significantly reduced stock price).

Force the price down with continual selling pressure for weeks, buy into the financing deal at very nice terms, make lots more money later when the company proves out the process.

I obviously don't have the information to prove such a theory, but I'm just saying it is a reasonable possibility.  Further, if that were the case, then it actually could be considered bullish even though the stock price got smashed.  Bullish in the sense that a bigger investor or existing shareholder wants a bigger slice of the pie.

[lscfa]

      https://www.theglobeandmail.com/business/article-proposal-to-ban-short-selling-ahead-of-deals-to-shake-up-junior/     Proposal to ban short selling ahead of deals to shake up junior markets   MARK RENDELLCAPITAL MARKETS REPORTER Globe & Mail  PUBLISHED JULY 19, 2020     A move to bring Canadian short-selling rules in

[Ballsofire]

The small lot selling hasn't stopped. Today we were up great with 381,000 shares sold and someone sells 1000 shares cheap and tanks the stock!

[BigGrayCat]

You totally missed the point of my post. The small sells are totally different than the mid size continual selling that drove the price down significantly in the weeks leading up to the latest financing deal.

[Ballsofire]

I am not disagreeing with you but my observation is the small sales were almost daily and drove the price of the stock down well under the start price for each day and it continues. My take is someone intentionaly sacrifices shares at a very low price to reduce the bid, then acumulate shares at a much lower price. 

[bailey2]

I think your take, is spot on. I do think, once we had filled the announced PP in December quickly, we were poised to move up in price. However, this was short lived as a debenture offering was announced a week later, at 5 cents. The debenture was going to be filled around Dec 31. The sooner RGX gets that filled the better to move upwards in share price. We don't want to have any financings

[BigGrayCat]

I agree with your assessment.  This is the "Mr. 1000" as Rancher refers to the seller...

[Ballsofire]

Ha Ha Ha, I like that, I think I actually bought some of his cheap shares!