As the compnay stated that there is no news to support the move,...

As the compnay stated that there is no news to support the move, I think the move is just what we should expect of stock like this one from a new company not backed by real cash flow. It is specualtive. It can go down like this and it can bounce back up like crazy every time there is some good news. People playing this stock should just be careful and take small steps. Those who got in early were lucky. The new players need to be careful. That's all. Make sure it is only a small part of a diversified portfolio so you can be safe.

Once the selling is over, it will jump up like crazy (and go down again ...)