RE:RE:What's the reason for the drop today?Thanks JFF7 - seems crazy to me that such stock manipulation goes on which ultimately leaves the retail investor out of pocket.
MirrorWorldMan, although not replying to my post, described what could have been going on today:
MirrorWorldMan wrote: Appearance suggests the shorts cannot cover, we are at the price they would like to do so but there is no organic selling to gorge upon. So they dump and dump, trade back and forth to generate an appearance of volume. They buzz down for stop limits, as they have visibility with the more expensive platforms. Their tenacity never cease to amaze me, the challenge as always is finding their floor. I am intrigued by the double listing in TSX and Nasdaq. There are different rules, favouring Canada, and the stock is non transferrable. My guess is that the Shortie Accounting can lump the same company together on different exchanges and hence use same tactics on both, maybe transferring shares between two related a accounts. Nevertheless, the dropping SP is only related to them selling, nothing else. Anyone who looks for other reasons at the moment could be a retail shorty, or paid for post (unlikely on Stockhouse but you never know). All business reasons have been factored in, IMHO.
This would explain why the shorts on this board are encouraging the longs to have stop sells in place, so they can manipulate the price enough to trigger them. All the analysts targets are way above the current price, yet this is not enough. We need the backing of strong Q2 results to get this stock back on track and heading in the right direction - towards the analysts' targets!
JustforFun7 wrote: news: a light volume on which the shorts are able to push to a new 52 week low knowing that begets more selling. Thats't their reward. Easy pickings.
JFF7
TOMMY1 wrote: Is it due to Goldman Sachs lowering their target to CA$34? If so, that's crazy given the fact that RBC Capital Markets slapped on an outperform rating and a target price of CA$51 just 10 days ago and we didn't see a spike in buying. I guess investors have lost faith in this stock but not the analysts (only when the analyst is negative and lowers the target price it seems). I am holding on for now - good Q2 results are what is needed here to restore faith.
Was there any other news today that I'm missing?