RE: Not making much senseIndeed this stock is defying logic. A string of good results and a high gold price, and the stock keeps digging a new basement. From the nature of the trades it appears that a large holder is liquidating and is highly motivated. My guess would be that the culprit is a hedge fund that focuses on small and micro caps.
There is an absolute dearth of liquidity in the juniour market right now-so if a hedge fund has to meet redemption requests they sell whatever has a bid. Merrex is a good story so it has buyers, albeit at a low price. But having any demand for your stock at all in this market is a victory!
I am hoping that the backed up results put some life back into this company but it will be swimming against the current.
There may be a bright side to this-if the coming results are positive at least this large weak holder won't have as much stock left to snuff out the rally-better to take them out at 37 than 73.