If part of employees severance came in stock, then 30 days is about the time they would be able to sell. The selling started yesterday, 7/30. Small float, a few employees selling...that adds up to me what is happening yesterday and today. If so, this will recover to 30 area.
". The consulting business is expected to be classified as discontinued operations, effective July 1. As a result, the company expects to record a one-time pre-tax cash charge of approximately $840,000 in Q2 resulting from severance to be paid to employees affiliated with the consulting business."
hey Sin, volume steadily increasing and price is stabilizing above $1.05
I was wondering the same. Bashers are claiming "resistance at 1.30", going down, crashing now..."
But what if this holds comfortably above $1??? hmmm
volume is lower than recent days. When this went to grey sheets, I don't everyone is able to trade it. I could not buy shares online, I had to call my broker. Not everyone is aware it went to grey sheets or can trade it there.
It will get better though.
It was inevitable that NEWL would go to .09 and test it again. No big surprise. I am guessing that NEWL is just about satisfied with this latest shakeout. A close between .09 and .10 looks in the cards to me. Then a higher move on momentum next week. (how high next week a bit hard to figure)
Ya think!!??! Of course it is oversold! Knee jerk reaction here. A lot to played out yet
mjopsia, I have no position in NEWL now. You may be right. But the massive hit the NEWL has had the last 2 weeks may put into question its status on the NASDAQ. You can't rule delisting out. It will be interesting to see what happens. NEWL mgt has to be reeling at the turn of events after the reverse split.
You must be really naive if you think the NASDAQ will open this soon. They are on the verge of being delisted if they don't come up with ample evidence on why they shouldn't be. Why do you think NASDAQ is asking for more info.
"Trading will remain halted until Newlead Holdings Ltd. has fully satisfied NASDAQ's request for additional information."
Fully satisfied is the warning phrase here.
I think it will test 6.8. That is initial level it dropped to last night.
golong, I am looking at last 1 hour of trading after the plunge, not the entire day. I am looking at intra day trends.
Same accumulation now at .48 level.
I like the way this is acting now. Short uptick, levels out them and another small uptick. Not much selling on small upticks. which I Iike to see.
Is the float as listed on yahoo finance 2.8M? If that is true, then no one is dumping and this is purely just day traders manipulating the market.
Can someone verify the float? thx in advance
Volume way down from previous days. Good sign the sellers are exhausted and moving on. It should have a nice move in the last toward .70