Post by
TheEdiot on Feb 13, 2018 1:04pm
General question (applies to HIP at the moment)
With the sellers of HIP dishing out 100 share lots every handful of seconds, a thought occurred. I'm just curious on why that practice doesn't fall under the category of stock manipulation.
Assuming you have X shares to sell and there is a buyer to do one transaction, why else would anyone keep up this pattern except to depress the stock intentionally? Is there any other reason that you wouldn't sell at the current bid instead of pushing the price down to sell for less? Unfortunately, at my cost per trade, I couldn't afford to do it, even if it did make sense for any reason.
Seems like a manipulation scheme to me...
Comment by
GoOilers on Feb 13, 2018 1:16pm
Not sure why the shorting on HIP. The only green MJ stock is NAC today. Quite a bit of increase too. Not sure how the MJ sector goes recently with the hue loss on the DOW since feb 6th.
Comment by
Dontpanic on Feb 13, 2018 2:08pm
Volatility is one of the reasons why Newstrike is shorted so heavily. Newstrike is shorted more percentage wise than the majority of MJ sector stocks.
Comment by
VeritasVern on Feb 13, 2018 4:09pm
Right Panic. If you look at the chart of HIP going back to late Dec you will notice that the sp increases as volume increases. We all know it was because of the Cannimed deal but that now has blown over volume plus share price is now in a decline. That pattern is likely to continue hence part of the rationale for the shorts i suspect.
Comment by
Dontpanic on Feb 13, 2018 4:34pm
I can’t argue that, share price is in decline and trending that way. I do believe however that the share price is being held down by short selling against the upward pressure of market growth. How long can it continue...hell if I know but people continue to invest.