This is getting manipulated or more bad news coming. The insiders always find out first. Machine down again? Insiders dumping . I have no idea but this is ridicules. This is not a private company let us know what the hell is going on. I see new 52 week low coming with market correction. Frustrated long!
My money is on "being manipulated". I've been watching level 2 all this week and there was no dumping. 10,000 shares were on bid most of the time no one sold to that bidder. On Tuesday (if I am not mistaken) the bid was 10,000 shares at 3.19 and no one was interested in selling, but after 4.00 the print went at 3.17.
Someone just wanted the stock to close lower. Same yesterday: bid at 3.14 up until 4.00 pm, but again somehow the closing price was below the bid.
And today, the stock is trading at 3.15 level and there is a print at 3.00.
This is obvious that some entity is trying to paint the tape and make the chart to look bad. This is usually done to entice people into selling.
If they wanted to sell shares, they would've let it close up by 20 cents and the next day traders would've been all over this stock and they could've sold a lot of shares. But instead they try to make this stock look bad.