I just had a 1,00 share order filled with 7 different small sized orders (29 shares - 200 shares). Anyone understand this selling? I then saw the bid jump to 100k shares at $4.40. Is this normal in this stock? Who is stuffing these orders or are they legit?
Dear Frank, you are a perceptive man. Shorts have been stacking the bid/ask here for a while to bring the price down forcibly. Stock should be at least $6 now were it not for the naked quant shorts here. They're stuck in SGYP with a low basis and need to keep the price down so they have some room to cover. They tried covering a little but it didn't work out too well for them. So, they're backl to taking it down looking for a way out. They are failing. The fact they're bringing it down shows that they agree, there is no way out at current prices. Must go lower for them to have a chance. Buy now and catch the short squeeze in two months.