Market is down almost 3% across the board everyone is panicking. Small caps got hit even harder and you think this was manipulation? If it was really manipulated they would have kept it under 10 dollar since everyone bought 10 dollar calls.
A lot of the trading is being done by computer algorithms.
It happens with most stock, but is just more obvious with this one due to the relatively low float and daily volume.
Watch the trading long enough, and you'll see the effect the minute to minute movement of the indexes have on a stock like this, once the effect of news on the trading diminishes.
The stock has been dragged down from the intraday high because the markets have been falling steadily since the Senate passed the bill, and the market immediately switched its sights to problems in Europe.
Now that the stock is going down everyone is saying "manipulation". Where were you when the stock went up 40% in a week ? That time it was OK right ?
Look, we all know that this company is good and had good financials but was it worth going up so much so fast - i dont think so. Steady gains is what you want and not those 20-30% jumps.
Doesn't anyone notice how several days in a row this stock goes 5-6% down in a matter of minutes ? Than goes up again and down again (in b ig numbers). Big boys are making money and this stock went up because they wanted it. Now, the same "big boy" will short this stock and leave you holding the bag.
This stock will see 8 in less than 3 weeks and will stay because that would be a reasonable and SOLID up for good earnings.
When this hype is gone a lot of you will be holding the bad... I bet it will happen in less than an hour too.
I am not saying sell it ( do what ever you want) just dont complain and blame everybody when you loose.