I agree that Sunshine Heart's major investors are holding tightly onto their shares. I am definitely holding onto mine. Low float, low volume, and a small fringe of day traders looking for short term movement, and a company that seems to want to keep C-Pulse below the radar until it's good and ready - it's a toxic brew.
On a day like today, a dip sets off a flurry of stop-loss sales, driving the stock down - and we've had a few days like this lately. But it doesn't recover, it just stays down.
It seems off balance, always trending lower. I wish I could figure out why. I feel foolish for my last (small) buy at $11, and that was only a few months ago. A logical reason for the $3/share drop would help relieve the sting.
SSH is a long term play, maybe 2-3 years for the FDA trial to complete - barring a takeover bid. The smart move is to ignore the price and hold, or even add to your position. Rationally, I know and believe this to be true.
But from an emotional/irrational/20-20 hindsight perspective, recent history makes it very hard to just hang on and hope.
I certainly feel empathy for the investors who have been in SSH since it's days as SHC.
SHC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held