In the good ol' days, if volume was low, the SP would pretty much remain dormant for the day.
Now we have the BOT phenomenon where certain low volume stocks are hijacked and the price is manipulated down/up/down/up, coaxing some panic selling and skimming some margin. Multiply by many different stocks on any given day and there is a fair bit of moolah to be made by these traders with deep pockets (possibly hedge funds).
Even with positive announcements, unless there are plenty of big backers behind a stock, buyers/sellers appear to be very much more cautious about jumping into a trade.
Biota still does not have strong institutional backing (Hunter Hall is the only serious one) and so Biota is a perfect little plaything for Bots.
Does anyone have access to Link market services to get the latest list of major shareholders of Biota?
BTA Price at posting:
$2.15 Sentiment: LT Buy Disclosure: Held