Post by
AlwaysLong683 on Oct 27, 2022 2:22pm
Converge Converging Downward Today
Down 13% last time I checked on 1.85M shares traded so far today.
NASDAQ down only 1.47% so far today.
Down day for Canadian Small Cap tech stocks in general, but most not down nearly as much.
30-day average trading volume is 819K, so lots of selling at lower and lower bid prices.
Issued a PR today announcing they will release their Q3 2022 results on November 8, so that can't be the reason.
Anyone have any ideas given the above.....?
Comment by
AlwaysLong683 on Oct 27, 2022 2:34pm
Needs to recover. Otherwise, possible tax loss selling in November may push it down further (which would be no different that the vast majority of small cap tech stocks in 2022). Conspiracy theory I know, but perhaps some parties got an inside scoop on the upcoming earnings report....?
Comment by
Bookworm28 on Oct 27, 2022 2:44pm
That's a good point. Year end portfolio juggling/selling could contribute to more downside, as tech is out of favour at the moment, but on the flipside, could set things up for a nice Christmas rally. Get the tax loss, and buy back in before year end without triggering a superficial loss.