The reason the price is falling is because there is a lack of long buyers at current levels, hence the price will fall until there are either:
1. Sufficent long buyers at a price level that they believe is value for the stock based on the recent sales update etc.
2. Short sellers who begin to think the stock has reached fair value (as they sold it short believing it was overpriced) and begin to BUY the stock back to cover their short sale.
3. A combination of 1&2 at the same time.
Then longs and shorts covering will be in control again and price will level or rise from that level.
My view is the sales update is not as good as you see it and that the presentation of numbers is at best poorly done, at worst, intended to cloud the slowing growth.
We can disagree, that's ok. It appears that right now the wider market holds the same view as me. That is why there are not enough long buyers at this valuation to overcome short sales. That's ok too and the market may be wrong.
All I suggest is try to look at why the company is being targeted by short sellers rather than just say oh it's manipulation, it's the big boys it's someone else's fault etc.
PNV Price at posting:
$2.15 Sentiment: None Disclosure: Not Held
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