I have a question. See if you can provide some insight. 18.8m float, most of it according to yahoo finance owned by big guys, then there are people like us who are long and that may amount to one or two mil Max.. SO where are these extra shares come from and if longs are still holding why is the share price so low.
If that is not the case then some of the big guys must have sold out, does that stand to reason .
I doubt big company had sold their shares but I do think this stock is heavily manipulated by big shorts.
When NQ is in the current limbo zone, it's so easy for the MM to manipulate and wipe out anyone with a stop loss setting. Any 3-5% of price movement will make them lots of money. When this thing turns around, it will be moving really fast because the same Big Short is gonna be Big Long. Those Small Shorts in this board will be the one who gets trap, similar to the Small Longs in the 20s.
The only thing I would do now is to wait. I was told that there will be news coming out soon to assure us.
Just don't expect the 20-F tomorrow but from the little that I know , NQ people is working hard to make the 20-F happening asap. It will not be months.
Sentiment: Strong Buy
Here is the thing: MMs want to play a squeezing game and double profit with the shorts. They have been letting the shorts use their shares for shorting and MM turns around to buy more of those short shares to themselves. I wouldn't be surprised if big boys coming out soon to claim that they have increased or double their positions. Short will be trapped so bad like you have never seen before !!! Short term shorts made some profit, but those long term shorts will be squeezed to death soon.
The short trade is severely crowded right now. There are something like 14 million shares short on a float of roughly around 18 million. This has the makings of an epic short squeeze, the kind that are talked about frequently, but rarely seen. It's funny that the shorts are talking about NQ being bankrupt when it's actually the shorts that will be bankrupt soon. I'm really surprised at how wrong MW is on NQ. MW had something to say about Sino-Forest, but NQ is not Sino-Forest. It's a solid company with Real Cash, Real Products, and Real Revenue Streams.
Yawn... once the HFT shorts programs are turned on, a million shares can be churned in minutes with very little actual change in any holders position.
Then there is the whole concept of all the MMs and Exchanges churning small lots with each other trying to fill their buy and sell orders.
It's actually not unreasonable for even a 1000 share order to end up as 10,000 shares being traded by them before your order is filled or after your order to cover the MMs new position without any of them losing money.
True volume each day is NOT reflected on your brokerage screen. It is reported by the exchanges to FINRA though.
In other words, your post could only scare unknowledgeable retail and is usually asked by unknowledgeable retail or a short trying to spread fear.
BTW, true volume was only about 4 million today. Avg true volume is around 3 million, and even those numbers, for example, include the multiple 5k share quick trades that I made today.
Good luck with whatever you are and your position.