I was going to post similar thoughts to you and OvF the other day when the SP started to drop. I was going talk about tree shaking, well deserved profit taking, weak hands and manipulation to trigger stop loses. And the combination of all of the above.
I am on a couple of other small caps (LNU an 3DP) where exactkly the same thing has happened, alomst in syc over the last 6 weeks, where there has been a sharp rise and then a retrace. With 3DP a couple of people called it on the forum here and talked about up to a 50% retrace after a multi banger performance. It didn't retrace that much but it did retrace enough to shake out plenty of week hands. A lot of shares changes hands.
I think PIQ is quite unique as it is fairly tightly held, so the volume of shares available to shake out is more limited.
That said, there has been a lot of action around this stock over the last couple of months and things are warming up. Volatility is the norm when I stock is rising. I am holding tight. A $ is not that far away...
PIQ Price at posting:
71.0¢ Sentiment: Hold Disclosure: Held
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