Drop in sp For the life of me, I cannot understand the share price action of this stock. We painstakingly get the share price to $2.84; then, without any rhyme or reason, on no news, it opens down
.17.
Why, why, WHY??? Man is this ever frustrating. Especially when such low volume moves the share price so drastically.
Does anyone have any rational explanation (or at least a theory) as to why this happens (other than some clown decided to sell at "market")? It seems to happen too often, to GCU, for my liking. What could possibly be the reason why a vendor would sell his/her/its shares so far below where the stock was trading at comparied to the night before, especially given that nothing fundamental has changed? For those of us who own tens of thousands (or more) shares, watching these drops is painful, as it wipes out a significant chunk of money (well, paper loss, anyway). I get someone selling for a penny or two up or down, but come on... a 5% drop, overnight? Maybe I am the idiot who just assumes that all vendors act rationally and in their own economic best interests.
Dazed and confusedly yours,
Barisian