Observations I have seen this type of selling in these juniors before. It takes some balls to hold your shares when it appears that the world is ending. I have again decided not to sell into this madness. The selling sure does hurt, though.
Why the sell-off? Is there material change. Likely not. Otherwise, it would have been halted by now. Also, QEC and CEX are trading at near highs. It might be because people expect the condensate prices to plunge. Again, QEC and CEX are holding.
My conclusion: I don't have a frickin clue. I am actually relieved (in a weird way) that it has finally closed that gap at $2.10. That should remove the last of the sellers. Also, those investors who hold PP shares have likely already shorted into the market. Finally, I suppose that Donny got way ahead of itself from the excitement from Wapiti.
This pullback will get rid of the weak hands and technically is bullish. That is my hope. I agree that in 1 month the stock price should be a lot higher.
David.