RE:Penny flipper stage and shortingGreat site,
https://ceo.ca/mdx
I think as Eric Sprott has talked about there are a lot of short seller taking advantage of the regulatory rules. Example MedX announces a financing and immediately the selling starts with the bet MedX cannot get funded and will go out of business. As soon as MedX shows any signs of strength the offerings get heavier and to your point first trade of the day is always a small amout hitting the bid to downtick the stock. The old adage selling begats selling here is true.
The only offset is for MedX to announce a large contract and additional distribution partners and the stock take a healthy move upwards. I am not sure if you can determine the naked shorts but its seems to me this is of epic proportions in todays microcap market. I am not suggesting this is the only reason MedX's share price is down but the trading pattern looks suspicious to me. I am aware of my confirmation bias for the record.