Could Praesens or Someone ExplainCould Praesens or another of the analytics experts explain what happened today? I have never seen anything like this and I admit I don't undertand it. When the price jumps all the way up from 50 cents to over 80 cents, all the way down to 51 cents, then back up to 56 cents, all in a single day with huge volume over 8 million shares, there are so many things I cannot figure out.
1) I would expect with such a huge jump to over 80 cents, and such high volume, there would be a large % of new sincere buyers in the 60 to 80 cents range - why would any of these people sell the stock the same day at a lower price than they paid? I would think they would hold it at least a few days? I get it that many people who were already in a good position would sell today, but they are being replaced with new people at a higher purchase price, so i would think that would settle and stabalize at a new price point only 10 cents below the daily high.
2) If there is still this "manipulation" going on with the bad guy crew often referenced on this board, how are they able to still manipulate the stock with such high volume happening? I would think that even with sophisticated technology it would be very hard to drive the price up and down with so many new buyers and trades happening every minute?
3) I would think a wild swing down from the daily high could only be caused by some horrible news happening during the day - there is only good news right now about this company.
I guess I am just very confused. We have nothing but good news and potential, and I can't figure out how this did not close somewhere around at least 70 cents with all the volume. If you had told me yesterday that it would jump from 50 to 56 cents I would have been pleased, thinking this is normal, natural momentum. What I cannot figure out is how there is all this trading between 70-80 cents, must be so many new investors, yet in the same day 70+ cents is not established as the new price point.