"Assuming the majority of placement holders who just spent $120M @ $1.15 haven't sold yet, then I'm sure they would support the SP further by buying more between say $1 and $1.15" – there are ways that institutional / sophisticated investors can use their shares for profit that don't involve supporting the share price. For one thing, they can loan their shares to a short trader. That gives them a juicy deposit they can invest for gain, plus monthly interest payments until the loan is made good. Similarly, if the insto has a negative sentiment they can just dump their allocation on the market and buy back lower to make good the small initial loss. If they're strongly bearish they could even amplify the gain by borrowing from some of the other instos and going short.
"Institutional buyers now completely overwhelming the piss ant retails, just what we need" – Did you post this in the wrong stock? Have a look back at the 3 or 5 year graphs. Back when the company was almost fully owned by retail holders, we never saw this kind of action. Yes, there was volatility as management set and then destroyed expectations, but it was never leveraged like this to levels far outside rational investment decisions. Now the company has issued vast tranches of new shares (almost) exclusively to institutional players, we're seeing mainstream and social media being mobilised and simple derivatives being deployed to amplify the volatility. Your "ant" retailers are the ones much more likely to buy and hold, while the institutions are much more likely to create activity to maintain a revenue flow out of the stock.
DRO Price at posting:
$1.03 Sentiment: None Disclosure: Not Held
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