The seller chose today to sell big. Now how did they know this wouldn't have been a pre-market announcement? They obviously had this as a plan why, then why not do it yesterday? They took the risk overnight of not knowing what they would wake up to or somehow were they entitled to this information that there would be announcement after hours or mid day????? Very odd timing for this type of sale. If it happened yesterday that I could understand.
looks like at 11:33-11:34 there was volume spike in ALIM & PSDV and both dropped. ALIM has not recovered from the bottom point of that spike. PSDV spike was larger and PSDV has recovered somewhat from bottom of that spike. While the trading patterns for the day are different btw the two, the 11:33-11:34 activity is something they have in common. It would be nice to know if it was the same seller. The activity looks suspicious to me too. I've identified trading patterns in some of my other small stocks that looked suspicious going back and looking at the activity after news was announced. I think there is insider stuff going on with some of this activity -SEC can't chase everyone -too costly -they only go after high profile or big money cases. It's pretty disgusting what goes on. Anyway, got the stock cheap and I'm looking at it for long term. I think ALIM should fall harder than PSDV on the news -all they got is LLuvien and they get 80% of profits. PSDV can recover over with time on other company related events/news ....
The big boys make the same guesses everybody else does. Absent insider info, the seller figured no news by 11:00 is bad news. They dropped the hammer. A million or so in volume on the drop. Gotta tell you, I sold in the .80s figuring I could buy it back if need be. Turned out it recovered 1/2 the loss, but just as easily could've kept on going down. Good luck
There are 3 reasons they would sell this off as they have done
1. They wanted to de-risk (prior to to decision)
2. They want to stop out people (so they can buy more, expecting an approval)
3. There was a leak
In order for them to wait until today to do the first 1 or 2, they had to know there would be no pre-market announcement.
Nothing was planned. It's simply the psychology of greed and fear. When the buyers backed off, the day/momentum traders panicked, assuming there was a leak, sold and then triggered stop losses. Small cap bio techs have been very volatile lately, so the market is especially nervous.