Bid now .68. Market forces just ain't happy with the Elipida situation are they? They keep slapping the bid down and now the bid is breaking into the gap from ~$9.10 to ~$9.75. So long as it remains nervous I expect to see further downside into that gap. Bid now .66. I'm adding a 2nd tranche here, and will continue to do so in staggered fashion as this thing works itself out.
Bid just got broken below .50. No surprise as it's been setting up that way. Of the ~30M shares in volume so far today ~18.5M has been sell side activity. The bid is basically back to the top of where it was on March 20th when it began to slid down to the $9.10 area. I won't be surprised to see the bid get walked down to that .10 area in the days ahead. This is not a pleasant prospect, especially when you consider it's already fallen ~5% in one day. Bid now at .46 and getting hammered via the sell side tactic all understand who've followed this equity for any length of time.
Bid now .61 and still classically weak. Looks like the magnet might be the .50 line...which will take it about half way back thru its upside gap. Nothing like a little appeal to make the bid go nervously south by about 3.5%, eh?