RE:Reason for the drop in stock prices Speaking as a swing trader....This drop could simply be caused by choosing "market sell" order vs "limit order" at a stop loss order at certain price.
Given that this is a thinly traded stock with low daily volumes of shares on the bid and ask...it's not uncommon for this to occur. I Roughly counted 25,000 shares traded red after 60c was hit...to knock it to $0.56 close. This is too low to cause worry or concern going into the weekend
I almost NEVER place stop losses in stocks like LME for this reason. Last time I set a stop loss for my oil stocks...they hit my sell V price then went straight up afterwards! Sometimes people purposefully sell a portion of their position hoping it'll cause a sell off...then they scoop up these shares that otherwise wouldn't be available to buy.
LONG LME