I'm still of the opinion that what we are seeing is retail selling, rather than some orchestrated sell down as is being suggested in this forum.
I vividly remember noticing and mentioning the high amounts of cash being invested into this stock when it was trading in the 2-4 cent range, particularly around 3-4 cents. We’re talking about investments of $50,000 to $200,000 at that level, on a spec stock. I've never seen anything like it tbh.
Now, consider how deep in the red those investors are, especially those who bought at 3 cents or higher.
What we’re seeing, in my opinion, is a combination of long term IOU holders finally throwing in the towel and retail investors who bought in the 2-4 cent range either cutting their losses entirely or trimming their positions.
But yes, someone is buying the dips at these levels.
(20min delay)