People Probably PennyingNotice how the day's low was $2.01
No trades at $2.00
People were probably pennying the stock at $2.01 because of big bids at $2.00
The term "pennying" refers to traders' and investors alike putting in bids one or two cents above a very large bid, and offers a penny or two below large offers.
This is a very common practice, particularly at round numbers.
Round and numbers like $2.00 in this case.
The multi-month high was on Monday at $2.24.
Will the stock take that high out this afternoon?
Given the intraday trading ranges this stock has demonstrated recently, it's certainly possible.
The way it's trading, it appears to me that it wants to.
At least give it a try.
$2.11 on 291,000 shares at 1:18.