crashing. Picked up some more ZIOP, and got a bid in for some more ABEO. Tempting to get some more here, but I need to see some upward movement before I do.
The company doesn't care about the share price going lower at this point. As they build their employee base, and part of the salary package is stock options, the more shares they will accumulate cheaply. As the company grows and the revenues increase, the more money the employess will make. This view shows a confident stance by management of the products and business plan. After all, they are hiring a bunch of quality people. Just as DL stated in a post, quality hires don't board the Titanic.
wants this to go once it kicks in. Unfortunately, that is the reality, without great news. Low price, low float stocks can be totally controlled by them and they still make a killing either way. I don't think the earnings/conference call was bad, but not enough disclosed to be perceived as good either. So, until Murph decides to give us some good news, or sales actually kick in, then we remain in the same pattern.
So, basically they are accumulating the shares, using the HFT program to get a cheap price. And all along the way making a killing buying and selling. From what we have seen, it certainly appears that this is what is happening.
Actually, looks like somebody wanted in. Very good recovery today. I still wish I had sold last week above 28, but now I think I will just hold.
I hold a core long position, and I trade swing trades as the opportunity presents itself. All my swing trades are now under water. I came close to adding today in the low 3's, but decided to wait till after earnings. Because, if Murph doesn't have some good news, earnings or contracts, then we will dive into the 2's. A good question posed by another poster today asked why are we falling down here now, and not when we were a couple of years away from a commercial product, why didn't it fall to these prices then. I do see why Murph wanted to do another issuance, because just look how many employees we have now. But, I never expected the price to fall below that 4.25 secondary. I do believe that there are other forces manipulating the share price, but still worry that maybe it could be bad news. Also, I ignore the bashers and pumpers, but do feel that there are some decent posters here.
totally controlled by the HFT program. That being said, totally nothing us regular traders/investors can do but watch.
Well, so much for that theory. Not sure of why this keeps dropping. Most of my other CEF's are now dropping too.
xncvx is just a means of displaying the current NAV updated at the end of the day. Today the NAV was 7.92, increasing by .05. It doesn't show distributions. You can also check the NAV at CEF connect. I currently own NCV, DNP, CHY, CGO, FT, and FFC
thanks for responding, didn't expect you were going to respond so soon. Anyway, to me the bond market is just responding to the interest rate hike (if it ever happens) and the treasury yields. So again, my other CEF's have not decreased nearly as much as NCV. Some are convertible securities similar to NCV. Just trying to make some sense out of it.