This is a worrying sign, Over 5Mil of shares dumped after trade. The buy lines were well stocked, someone waited till EOD to dump their line without spooking the market.
Basically the buyers wouldn't be able to react to the sell(lower their prices)and thereby the seller has maximised his revenue, beautiful.
Were they short sellers? IMO no, after all short sellers want to spook the herd so it makes sense to do it while the herd is grazing?? Panic the herd and they can drive the price down and you don't have to use your equity to do it.
Its EOM and maybe options have expired/exercised?? Couldn't find any on my screen?
Last of all maybe the ship is leaking and someone has picked up a lead and acted on it??
We could go on with the theories, but the fundamentals aren't good so it shouldn't be a surprise that we have holders bailing out.
As for Takeover theories, I have none, can't imagine this show can be easily turned around to suit takeover merchants.
ELD Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held
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