Been in BGS for a couple of month now, and firmly believe in where the company is heading.
What I can't understand though is the sentiment towards the stock -
Looking at it from late Apr to first week or so of May, there was 200+ buyers for 130m+ shares to 70-80 sellers at one stage 14m (average of 30m) worth of shares.
Then over the span of 1 day - literally, the ratio dropped and equalised, and then the next day it started to reverse, and the gap has only grown since.
Now I get this happens when there's news - i.e. bad news = more sellers, good news = more buyers, but BGS was in waiting phase..
I get the drop from last week - .027 to .023 - lots of stop losses triggered. Kind of get the movement today - big buys at start as they thought it would run - when it didn't, they started to sell off.
Still confused with the general sentiment...
Anyone have a clue? Please keep this discussion to B/S ration and not your sentiment towards the stock - i.e. no ramping up or down... I'm looking for an explanation to the change in volume, not where you think it will go.
BGS Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held