The big hands are holding longThe daily volume as compared to outstanding shares is minuscule.
I will follow the big hands...the volume we are seeing is short term players getting out and day traders moving sp. Much of the volume is recycled through the same hands playing the intraday.
Do you think ES is concerned that his small (relative to his net worth) fortune has gone from $1.95 to $0.95 per share? If he was, volume would be much higher than the recent high of 5 million and typical daily range that is under a million.
When under a million shares move the sp 12-13% in a single trading day against an issuance of this size, it is obvious where the price movement is coming from.
Hold strong...you will be glad you did.