This Board demonstrates the adage that "nobody knows nothing." We have theories about departing investors, size of company, ratios, volume, etc., etc. Here is a small company making a good and getting better profit, a buyout candidate, now unshackled by startup money investors/board members, paying a dividend, in an industry destined to grow. Mr Market is selling off for who knows what reason. Maybe he knows of some impending scandal but, absent that, it looks like a terrific buy at these levels. I took my own advice and bought more because the trick is to buy low when the future is uncertain (as it always is) and sell high when everyone agrees the company stock price is going up.
One theory that is true and has been mentioned in stock books is that small cap companies with little or no broker coverage like this one , the stock price will drift down over time , esp when no positive news comes out between earnings. There are many reasons to sell that have nothing to do with company, death, divorce, need money, cover other losses, etc but only one reason to buy , you think stock will go up. Few will buy during a no news period..
You make a very good point, Nobody ever has a reason that they have to buy so the natural tendency is to drift down. But there has now been nearly a 25% drop from the 52 week high and there was some high volume last week which has tailed off Friday and today. I sold in late May to lock in profits and looking to get back in cheaper but it seems to be in the falling knife category right now. It is approaching the 200 day MA which may prove to be some support.