I got my first buy in today at .43. I am happy with that, however I expected it to end up around .48 by close. Anyone know what happened that caused it to stay around .44 most of the day and then close at .437? I have been searching around and I cant find anything.
The price was driven up by shorts covering their positions and by newbies entering this market. As the percentage of short positions decreases there are fewer shorts covering, which leaves less support for the increased price. This causes it to fall back to a level of support. It happens regularly, I even posted two days ago and said it was going to happen. Not to worry, it should move upward today.
The same things that can cause any stock price to decrease . . . It's nothing to worry about though. It isn't normal or even necessarily good for a stock to constantly increase. If you notice, it was only 6 points. That's compared to the 150 points it has gone up in the two weeks I have owned.
To be a little ore specific, .50/high .40s seems to be a popular selling point for this particular stock..