When the Commonwealth and UBS between them decide to throw about $100M into an attack on a stock, it is going to struggle to maintain its equanimity.
There have been, and still are, millions of dollars in shares been used by these two to short the stock, cap it and play it with micro trades via bots.
They have some target to reach, and whilst they are getting there the share price is going to suffer. Once they get there, the algos will miraculously reverse their operations and the sp will go up again. UBS covering 6 million shorts the other day was a good sign .... perhaps ..... but they are still there, and unfortunately now under the radar unless their holding increases once again.
I find the whole process close enough to criminal that I am astounded that it can exist ... but then again, that describes (unfortunately) a lot of what happens in the financial world.
NXT Price at posting:
$2.89 Sentiment: None Disclosure: Held
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