Or is it the same excuse the shorts are doing it? The shorts have shorted 10 million shares several months back not today. Why is it down by 5.5% thats happens usually when there is a IRAQ war or BP oil leak.
"Does anyone know why RBCN is down by 5% today"
I'd say it's because the stock wants to close the gap down to $21.11. The stock probably won't run until that happens. Most stocks do close most gaps. It's a technical reality.
i'd say no-one can stop you from selling.
any price you want.
you can force my buying price down to your sell. i can't force your sell up to my buy order.
my bid was $24.01.
got filled at $24.00
There should have been a BIG enough reason for a stock to go down 7% in one day when the overall market DOW is up by 1%. If we see peak prices on the single day it was 22.80 to 25 thats 11% in a single day.
There have been systematic barrages of 100 share trades at the bid since late morning. I saw multiple trades of 3000 shares at the ask immediately followed by 100 share trades .05 cheaper than the last. This is a MM using a program to pull the price in, probably to fill an order for one of his short clients looking to cover. Watch the late day trades and especially the "buy on close" trades at 4:00. This is crooked as hell but don't count on the SEC or FINRA doing anything about it. Buy call options to counter it. IMO the PPS will be over 25 within 5 days. The March 25 call action supports it. In the meantime the "tape painters" are in control.
I promise you that there is shorting going on today and it'll increase until they drive the price back under $20.
I think the market maker is also cooperating with the short players between earnings reports. RBCN is in a fight that I don't want to get involved in when it's over $20. I could short it but I don't like rooting for a stock to perform poorly. Call it a character flaw.
I agree I have no idea. I don't get this stock. I think everyone knows its a great buy yet it cant seem to take off after earnings came out. Why don't the shorts stop shorting it and buy it and we all can reap the profits