share priceIf someone has already posted what i'm about to say please forgive me, I just got tired of reading all the panic about the share price drop and never finished reading all the posts.
For all you first timers here, It's the share holders that set the market price, up-down-sideways. they set it for different reasons, Some Institutions sell because of the profit they have made on the stock, they also have shareholders to answer too. So buying shares at $4.+ and selling at $6+ is good business practice. ( 50% profit in 2 months ain't bad.) especially if they believe it's over bought. They can always get back in later.
The day traders are buying or selling on momentum and they don't need anywhere near that profit margin to unload. Others have loss stop's in place and with a quick drop in SP get stopped out.
Then there are the buyers that believe all the hype of the stock and push the stock up faster then it deserves.
I'm a bit embarrassed to admit but I was a part of this group many years ago that bought on the CIBC hype of $200 a share ( paid $60.00 .... yes ouch ).
I have owned ever since and bought more in the low $2.+, I have followed all the revolts, the hype the bashing and have learnt to be patient. This stock is going up but it is not going up like a rocket, it will rise and drop just like most stocks in my portfolio. do I see $10 a share...Yes $30 a share ...maybe but the $100 - $400 numbers i hear ...I don't think so.
If you believe in this stock buy on the lows to average down and if you don't believe sell...there are many other stocks that are good buys out there.
sorry about my rant.