RE:RE:RE:RE:CIBS is Dumping Again to Incite Panic Sellingstealthct wrote: really strange trading today. this type of volume should of tanked the price. but it held up well. actually finished green.
I believe what we saw today was a planned effort to drop the share price by dumping hundreds of thousands of shares for cheap, ie. sub $0.25, while actually buying back those same shares as anonymous, or in several cases with the same account, ie. seller: CIBC, buyer: CIBC.
That triggers tons of our stop loss orders at $0.25, for the same group to buy lots more cheap shares. It also causes panic from retail investors like us to dump shares at market price to be picked up by the institution who started the panic in the first place. It's easy to do if you own hundreds of thousands or millions of shares and the price is near a key price that people don't want to see if drop below, ie. $0.25.
Then toward the end of the day, all the cheap shares are bought up, and those of us who sold for $0.25 regreat it and buy up at $0.27+.
Just my theory, I'm not a professional investor, but I watched the trading closely and even picked up a bit more at $0.245.
Don't put too much stock in what I'm saying, but I think Canopy's decent results signalled a turn for this industry and we'll see people getting back in. It was a great opportunity for the market makers to pick up several hundred thousand more cheap shares before the big run up in share price.
Again, I'm no expert so do your own DD, but I think we may be at the edge of another big bump in interest in this sector.