Reminds me of the old "$(insert target) Party" trick.
In a volatile retail heavy stock with a good future but recent fundraising or other baggage, jawbone a low target. Sometimes it works - trade it down then profit from the rebound.
I've watched this play over and again on spec stocks - often you can see the sorts trades at the same time (not the case here though from what I can see). Never ceases to amaze me that the tactic does seem to create some gravity around the number. MSB was a classic. One particular downramper would chime in with ridiculous rubbish every now and again, with a corresponding spike in shorts. Price would go down and hit the target. They'd do a raise and the shorts get covered. Eventually there is a good news and the price recovers a bit - but lasting damage has been done and retail investor wealth burned.
I live in hope that one day ASIC will be funded to routinely compare trades against HC comments.
HZR Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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