RE:RE:RE:RE:RE:Shifting narrative
I am very skeptical about the trading volumes and what they mean.
We know:
- about 216 m shares outstanding (not counting warrants)
- we know that insiders have easily 20 m shares that they have not sold as it would be reported
- we know that there are a lot of dedicated longholders. Many of whom indicate that they own a lot of shares. I don't know what that means but if the average passionate longholder owned a few hundred thousand shares then it would only take a few hundred of them/us to own most of the market cap.
- we know that on some days trading volumes of 25,000 have managed to drop the share price by 8%. Easily. So my guess is that the long holders are not selling and they are also not buying as they have bought what they intended. Leave a few others to do random staff to cause price swings.
The other big red flag is that in the last 4 weeks ago there were a few days with 500,000 shares traded and the price didn't change. My suspicion is that there are a few swing traders that trade between separate accounts that they own in order to see if they can shake out sellers for a lower price. How else do we have days where the total shares traded at 89000 (today) and the price is down over 5%. I cannot see how 500,000 shares move without a price drop unless it is just moving in a preplanned fashion between coordinated seller and buyer. Anyone else have an explanation?
I'm not trying to call conspiracy. Just wonder if there are some people whose day-trading job is to moving things around to generate small profits in volatile stocks.
All in all, I guess my point is that the price dance is not a real reflection of market forces because of this situation of dedicated long holders who never sell and a few others that do in ways that are hard to interpret.