The stock moved from 16c to 32c+ (100% increase) within 10-15 days
This is a consolidation as people take profit
Spud being at least another week to week and a half away is plenty of time for it to head back above previous highs and into that 40c region
If you run the numbers based on the % chance of success and the equivalent share price, it should be capped closer to $100M or 40c based on risk vs reward
That doesn't stop the technical traders who aren't in it for drill results, but helps to establish a floor
It should bounce into next week, this is likely people trying to front run the sophs selling next week and may get caught out if they hold into spud
TPT Price at posting:
27.5¢ Sentiment: None Disclosure: Not Held