Agreed - market manipulation is probably the second favourite of stock holders alongside the whole debate we had the other day of taking a knife to anyone who has a negative view. Every little trade is supposedly manipulation when the pullback occurs.
Indeed for every seller there's a buyer. In this case in reverse the lack of buyers i.e. momentum is why selling is not being soaked up. The short term impetus from the quarterly which I still believe was negative (and clearly the market dynamics agree given buy/sell demand has pushed this down - it's pure fact) and rules based investing/trading may see many cutting their losses.
There's also common sense given the string of recent announcements that the likes of another ebay-vivino - bib announcements in close succession are unlikely to be repeated. Not "impossible" but the likely catalysts are skewed more to the downside of nothing eventuating.
As mentioned though if your story hasn't changed then here we go - a buy in price to top up at. Arguably the quaterly didn't give enough comfort to me on that front, but what would would be the june qtr as numbers will start to filter through. A lack of scale this quarter and momentum will be the nail in the coffin for this story (until something changes) - and one can't hide behind the 'but it's a growth stock' excuse for making losses forever.
Today though may be a good point for a long term believer given Monday is the launch, so one could be (in short term) expecting some potential announcements come next week or so. Potentially bundled in with future client wins. Of course the downside is being the soft launch nothing of material nature will eventuate that isn't given until time has passed and actual use of the platform can take place.
DW8 Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
(20min delay)