The stock has a lot of fairly "new" investors. When you haven't seen it before, its difficult to understand what might be happening.
My experience from being invested in other stocks over years, tells me its not surprising that the heat has come out of the price - just before "big news" time.
A number of more experienced holders would be taking profits, moving to free carry, getting themselves into a low risk position. There is no more time for fomo rises, so time to consolidate. At a time when buying from those who "want in" has diminished, these things cause some downward pressure on the share price.
A lot of experienced investors would also be considering that the peak reached already wont be broached after the auction. I know this is hard for many new to share investing to believe, but stocks are often not valued accurately, especially in their early times. It may surprise some people but the auction may go really, really well - and yet the share price will not spike upwards suddenly. Reaching a value equal to worth takes time.
Put simply, the speculative money is in, some profit has been taken. Mustang will one day be fairly valued, but that may take significant time.
Having said all that, the past is not a reliable indicator of the future. Mustang's circumstances are pretty unique. All of that "history" I've covered above may prove to be totally irrelevant.
MUS Price at posting:
14.8¢ Sentiment: Hold Disclosure: Held
