Any compelling reasons GMXR Preferreds don't hit $25 ?
Not surprising to see some profit taking here after such a spectacular run. However, it blows my mind how careless people are selling. Market orders for 1000s of illiquid preferred shares?? Of course the stock will go down a few bucks! If you want to sell you will get a much better price if you dribble it out with some care. You should have sold some at $16 this morning! On the other hand, careless selling is a buying opportunity for me! :)
Definitely some ham-handed selling on the Preferreds, you can't exit a "large" position on such a thinly traded security without it having a negative effect. I've moved the price myself with a 100 share order.
But it's definitely a good opportunity to "back the truck up" if you want to get in.