History has a way of repeating itself...look for a nice bounce off of an intraday hit at or below 2.87. I guarantee a number of traders get a buy alert at that level and that you will see a significant uptick in volume.
And, we're not too far away from CBMX pre-announcing growth for the current quarter.
Agreed - the normal pattern should be a bounce tomorrow - dead cat bounce as the shorts will call it. but a significant bounce none-the-less.
All bets are off if the company has a press release. If they are smart, they will do everything they can to close a deal and issue that PR very soon. The price will go through the roof - and then, if they wanted they could issue shares to pay down debt. Opportunity of a lifetime for this company.
If you were long RSOL and got out, check out GALT for a few bucks in the morning. If you are short RSOL, I smell are rebound tomorrow - cover in the AM and get yourself some GALT.
RSOL had 4 press releases just before earnings - they are overdue and you know what a press release does to a volatile and heavily shorted stock.
After hours recovery shows strength for the premarket and another run after the open. Scare was on a secondary which isn't happening. JASO just gave fuel for all of the Chinese solar plays to start a run. They have missed out so far and now have reason to run. They are heavily shorted and earnings along with the news from Germany on the tariffs will sustain a run for them. RSOL is going to join that ride so don't worry about a pull back just yet. I'm putting in stop limits over 8.
Some very large orders came with the pop today and that has consistently been a good sign. I would look for premarket activity tomorrow and/or higher volume during the morning to drive this over $4 - depending on the volume, we could get close to $5 pretty quickly. News of new parterships/operating states will obviously cause a higher and longer term run.
The trend is our friend - and this is trending up. Perfect set up for a breakout. We also have Q1 behind us and the speculation on continued growth will drive this higher through earnings or until the confirm it with a PR.
Other than a tiny bit of dilution, today's announcement confirms the new bottom is in - and guarantees funding for CBMX through the turnaound (if they need a few more million, they have the source already).
Prior announcements of shares being converted were consistently on days where the share price spiked - either the buyer was shorting or unloading on the spikes. However, today's announcement is a direct sale of new shares at a fixed price close to current. The buyer has set the floor and has already covered all of their short sales and will be moving the stock higher going forward.