Market correction, not PYR-specific correction.Seems to be a broad misunderstanding -- or perhaps an intentional misrepresentation -- of the stock markets, and what is happening to PYR's share price.
Today, this week, and last week's decline of PYR have nothing to do with short sellers, manipulators, or other ghosts.
More imporantly, it has nothing to do with PYR doing, or not doing, anything.
Entire market is in correction.
The entire market continent-wide is in a broad correction, based on several factors, notably a general sense it was over-heated and needed a correction, rising interest rates, rising bond yields, and inflation -- all of which are anticipated as the economy gets back to normal. As this happens, it's common for small cap growth companies to take a temporary hit as investors move their money back into the traditional stocks like finance, energy, and consumer products.
That said, much of the correction is a sense that the rise in inflation is happening faster than expected, causing the bond market to increase their yields. But that is an over-reach, and inflation is still "soft" and is not a significant pressure and won't be for quite some time, as the US job market is far from recovery. The bond market is over-reacting for now.
The chair of the Fed in the US expects the bond market to pull back and for stocks to not to continue to get hit, as the economic recovery will take more time.
Source: https://www.cnbc.com/2021/02/23/powell-says-inflation-is-still-soft-and-the-fed-is-committed-to-current-policy-stance.html
The market % decline compared to stock % decline is not directly correlated. It is indirect. PYR has not lost more compared to the market.
The correlation between the amount the market % changes daily, compared to the share price of stocks within the market, is not 1:1. So if the market is down 0.50%, but PYR is down 15%, that should in no way be used to suggest PYR in particular is down more compared to the market. That's simply not how it works.
For instance, here's a chart of the 20 worst stock market % drops in history. The 20th worst was 7%. The #1 worst was 22%.
Source: https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average
Yet daily, all kinds of individual stocks move by 20%, 45%,18%,150%, etc, both up and down, while the worst market percentage changes in history rarely passed 7%.
Growth stocks -- especially tech, small and micro-cap stocks -- are getting hit hard.
On average every day, the markets and their indexes swing between -1% and +1%. Anything over 1% in either direction is considered significant, as is multiple days in a row below that -1%. The US markets have a major effect on CDN investor sentiment.
The Nasdaq today is down 2.33%, which is very large. The Russell 2000 which tracks small caps stocks, is down a massive 5.4%.
Again, this is a sign of investors cashing out of growth stocks temporarily and moving some of their money back into the longer term value stocks they used to trade in anticipation of the econcomic factors. It always happens, but also always calms down.
The market is going to do its thing. Suggesting PYR could have stopped this from happening is contrary to market reality.
The correction may last a couple more days. No doubt Peter is waiting for signs that the correction will subside before releasing Nasdaq uplist dates, as he should.