RE:RE:RE:RE:RE:She is going down....glug....glug
I think I have an idea why is the stock on such a downward turn lately. I tried buying a few thousand shares and looked at L2. It showed me such low volumes that a buy would have triggered price increase by order of at least 8-10 cents by just wiping the bids up to that point.
It got executed but it got filled instantly using algorithms that are trading.
Being such a low volume stock, those algorithms in market maker firms such as Citidal are looking at the stock based on two factors: next quarter earnings forecast, which is going to be lower since the COVID one time revenue component is gone, and then negative news such as OIG. So that happens is that they decide to fill the market in the negative direction.
The algorithms won't know how to interpret those without analysts which won't bother with it on being such a small cap. Those algorithms will make money on the spread one way or another, so downturn won't matter to them.
Either that, or there is a forced short for a take over or something.
I still maintain that this is a good by at 10x PE in such crazy high PE market. Holding and increasing the position.