1-Long term investors already holding and will continue to hold. Represnts (my estimate) 60% of float.
2-New long term investors will emerge, buying & holding aprox (my estimate) additional 5 million shares.
3-Day traders salivating will play approx.8-10M shares all day long.
So, the Pre market will advance to $2.60
Then it opens at $2. 48 and within minutes drops to $2.20, then rises in 20 minutes to $2.96.
The traders then bring it down to 2.61
and it bounces off what becomes the support to $2.94.
Trades the rest of the day between $2.61 and $2.96, closing in the final minute at HOD $3.12
It's just a playbook. Prepared for all moves.
And regarding float, anyone saying there is no float, is wrong.
Of course there's a float. And it will partially change hands again, with more long term investors entering and the float will shrink.
Moves will become even more volatile.
Longs just have to hope there is no filing.
No filing, as another poster wrote will keep upward momo.
u must have just come to the board..Starting Tuesday the 8 of Dec ending Friday the 12. Over 120 million shares traded hands...The float is long gone..Sold at least two times over on Friday alone..Float is zero balance..Naked shorts will be slaughtered
I think you might be off by a penny or so. Or a buck or so. We shall see. Those crystal balls that predict investor sentiment based on potential future outcomes are fraught with risk. The sentiment can change on a dime (pun intended). I plan to short it on Monday if it gets above 2.80 and buy to hold if it drops below 1.60 for the long haul. Its fun making money in both directions when something like SNSS is so volatile. Remember GETA!!!