Good Question Stig. Not necessarily in every case. The bots IMO are looking to find base level quickly as this gives another starting point of entry at low risk. I recall back in Dec picking up more at 13c on absolutely no news and no real trend line (in fact is was trading sideways). Within a day or so it ran up to 17/18c again on no news and found its way back to 16 where we sat for weeks.
The bots are more than capable to buy/sell to levels where the trade stack is at its highest (16c was where it was at most back then). I believe some LT holders are taking profit given entry to many of them has been sub 10c. (double bagger). Let's also remember they have held for many months not days or weeks as for some welcomed newcomers. As another contributor pointed out earlier, IOU got to levels of 28c on not a lot of fundamental, financial or milestone news so to be back in the 20's must seem to some like the wait is finally over.
IMO it is just the beginning.
Good Question Stig. Not necessarily in every case. The bots IMO...
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