Selling of late has to do with WARRANTS........Selling of late has to do with the WARRANTS.
Those whom participated in the PP bought shares at 85 cents and got the $ 1 per share warrant.
When price hit $ 2.45 per share, just shy of analyst target of $ 2.50 per share, the buyers of the PP shares started taking their profits and have locked their funds aside to buy the $ 1 per share warrant which will be in the money within the next few weeks.
It is a way of investing free of risk, they are only risking their profit and have withdrew their capital
There are 32 million shares in these warrants so it helps explain order imbalance to the down side.
I would have thought that this scenario would have produced itself after the stock hit $ 3 per share, however it occurred before, meaning people are pretty shrewd on RECO.
They lock in profits, then wait, risk free....if RECO surges, they come back in at $ 1 per share, if it does not surge they keep all of their PROFIT.
MPO