When momo pump stocks are running they open near the lows and end the day near the highs.
When momo PUMP stocks turn into lost momo DUMP stocks they open near high of the day and close near the low of the day.
HAUP pump started on Thursday afternoon. The stock jumped from 1 to 3+ dollars. That was the day of the momo pump.
HAUP excitement built overnight. The newbie non-thinkers bought at the open at 4.50+ creating the high of the day. All day long HAUP sold off (the ball bounced down the stairs) and closed at 3.80s near the lows of the day.
Forget the bad overall market action. In fact HAUP was strongest in the morning when the market was weakest, and then when the market stabilized and came back a bit in the afternoon HAUP was selling.
The above discussion is just about technicals.
Fundamentally, we all now know that the horrible earnings report hit after hours on Friday.
This means that all newbie, non-thinkers who bought into the hype release are now stuck bigtime. The only question is will they get out at 3, 2 or 1.
The smart ones will cut their losses quickly and move on. The stubborn ones will hold on, post in here endlessly, grasping every possible thread of hope until finally they are the only ones left in the room.
HAUP is an ollllld story, well-known by the street. If I was a new trader and stuck in HAUP I would probably be questioning the timing of that well worded release just prior to the earnings loss announcement. Since I am an older experienced trader I wont question it. I simply used it to my advantage. I knew the moment I read the release that this was nothing new at all. I also knew that HAUP was scheduled to release at or around May 17th. I put two and two together.
There was and is a very real reason the stock was trading below a buck and will be there again shortly.