might be set to bounce after stop loss selling

The heavy selling in the last hour of trade today appears to have been a concerted effort to get the price to $1.08, which was the stop loss level for the MADKOA MINI warrants. The price hit that level with about five minutes of ordinary trade remaining. The open interest in this series of warrants was 962,000, which would have led to likely selling of about 400k shares at market by the market maker (Citi) once the $1.08 stop loss was triggered. 450,000 shares were sold after this time, seemingly with little regard to what price was received.

It appears these positions are now unwound and MAD may be set for a bounce as a consequence.