Lots of small guys are going to be burned.
No one wants to buy. just sellers
Just waited another day? or two? I think we'll see $14.50 next week.
Did you look at the last time this went from $2 to $8 in a day? Then it constantly fell to $3.
I think selling will stop there.
This will keep falling with such low volume and no positive news.
You can feel the pressure about to explode.
That isn't low,. the stock really should be in the $1-2 range as the bonds are trading like 80 cents on the $1
Looks bad for the margined guys. Good for new dummies to scam for a company that is going bankrupt and paying more in interest charge then a guy paying his credit cards.
It isn't fraudulent short-selling. It was margin covering that has jacked the price from $4.20 to $6.40 that is a 50% in crease and now people just selling off after all the news of earnings in July 31st digested and news of more changes in the financing to keep them from getting into bankruptcy that spiked the stock.
Now it is just deflating back to $5. as so many are on margin calls.
Notice how low the volume is. You try to sell anything you get killed and it will keep going lower as people forced on margin calls the lower it falls. No one dares to touch it. The market makers just bring it lower each sell.
Just look at the history for the last 2 quarters. It took about 2 months until the bottom was hit after earnings release.
Best wishes everyone!
Dude you know how to pick stocks. You bought GALT two weeks before earnings at $13.50 range and it is $4.40 today.
You buy CNAT at $9 range 2 months ago thinking someone must know something to buy from the jump on June 11th from $6 to $9 and you keep pumping. And now it is $6.60 and they even have a shelf to sell MORE SHARES TO MORE DILUTION because they are running out of cash by the end of the year.
Dude, you can REALLY PICK STOCKS!!!!