It's a pump and dump. 37c in Jan to $2.72. We're in the dump phase like all other market darlings over the years.
Even before today's dilution, I could see 80-99c as a good support area on the charts, provided the retail pumpers keep propping it up when we get there.
I've said there may be a fight at first to keep it above $1. Every stock that's loved by retail, gets intso buying in with other people's money and it makes no difference. This is the same thing retail have said in other market darlings. Instos don't care if it falls lower because it's not their money. They will buy more under $1.
They make more money destroying retail and taking it to extremes. Oleg knows this and is using the opportunity to raise now before it goes under $1.
If this doesn't drop right away, instos can use the CR as a guaranteed stop loss for their short positions but I think it will go far lower than $1.15. If it doesn't drop below $1, so be it, may just have a small nibble anyway and wait to add to it. Looking forward to Friday
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