well, I have a little evidence: at midday on 16-Jul, over the course of less than 60 minutes, roughly 15 million shares were dump on the market in a series of line-wipes that drove the share price from over $2.50 to $2.00. There is no way that you can ascribe this to a retail holder. No retail holder has that kind of stake.
- I disagree ,,, those holding ,, many retail, ( see Olegs comment regards the huge number of retail on the registry pre CR - its huge and gathered ever more since) were on high alert for the impending sell-off and a trigger of which there were a couple.... Id say the instos that participated in the CR would of managed to be free carried by this stage,,, most pros wouldnt be caught trying to exit on a falling knife facing a loss without a margin of safety. Maybe im giving them too much credit .
Going on the hype chat on this forum in the days leading up to the apex price, most of these probably relied on contingent stop loss orders as a misplaced risk management strategy or thought they could exit fast enough without much damage. Not so when the rise was meteoric and daily $turnover huge.
To call this a "dance" implies that retailers willingly and intentionally participated in the sell-off, which in turn seems just a bit disingenuous.
- anyone playing this game knows that even helium balloons come back down to earth.
A dangerous , but potentially very profitable tango until the music stopped.
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