Once something becomes a day trader's dream, often it is self fulfilling, where the day traders, by trading the share. create the volume they are looking for, essentially turning the share into a quasi gambling den.
This is more of a nuisance than anything else, as if someone wants to buy a BIG chunk of the business, say a 5 odd %, it doesnt really matter if there is or isnt day trading, because buys of that size create ripples in the share price.
With day trading momentum swings tend to be harder and faster.
If we break a resistance, often we'll move 12-15 % in a day, but can easily dump back down 20% within the next week. So it creates a bit more of a white knuckle ride for longer term holders, but after awhile you learn to ignore the noise and focus on what is important to an investor (the underlying intrinsic business you have invested in)
CCC Price at posting:
80.0¢ Sentiment: Buy Disclosure: Held
