GREY:WSCEE - Post by User
Post by
stockdomon Jul 19, 2011 10:27pm
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Post# 18849942
Why the stock plunged
Why the stock plungedThe popular question over the last couple months was, who is selling. I've always felt that the suffering longs for the most part are not sellers at such low prices while there is still some hope for salvation.
The answer in my opinion is the former Vasjar shareholders.
The stock had been trading btwn 11 and 15 for 3 months prior to 4/12/11 when the vasjar boys received 980,000 trading shares as part of the settlement of long standing disagreement. Not much doubt in my mind that they began a selling campaign from then on.
It's no wonder that there was such a hard bottom as I had written about a few weeks ago. My guess is that most of the dumping is done and the stock is already firming up.