I guess if more people are selling than buying then it's easy to drive the price down. Daily volumes are pretty low. More sellers than buyers. Nobody is buying BVS at the moment because they have no reason to. It's totally unloved and stuck in a massive rut. Hopefully the HY report will give the shorters a reason to take their profits and move on to the next stock.
I totally understand when a stock is shorted because there is data to suggest that a company might be in trouble earnings wise or for some other reason but as I stated in my previous post there really hasn't been any bad news released by BVS so the SP has definitely been manipulated down by shorters and weak hands are selling and playing into their hands
One thing is for sure, the HY results are going to move the needle one way or the other. Let's hope it moves it in the right direction.
BVS Price at posting:
$2.70 Sentiment: Hold Disclosure: Held
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