Nice bounce today. As I write this, we are (once again) staring at the $2.39 level.
My personal theory about recent action:
Day traders jumped on the strong upward momentum on March 7 & 8 - HUGE volume! Then, they grabbed their profits and moved on. The only problem was that in a relatively thinly-traded stock like PACB, the rush of the traders out the door caused short-term drops below $2.20.
We may be in for some more of this volatility now that we are on some traders' radars. However, being a fundamental investor I believe that the longer-term trend in PACB is quite positive and upward.
Well here comes the sell off yet again. I'm not selling and no one is getting my shares until we hit at least $10. I'm not worried about day to day trades. I'm only interested in the long term prospects. And long term this company is positioned well.