Yeah, I wish I had been at my desk when that happened. I think I must have been on the radio at that time.
I’d like to get in in the 15-18 range.
So what do you attribute that to? Favours? Clearing house for a huge short? A massive sell-off? It’s rare to see such a huge dip that immediately corrects.
Of course, it could have also been an AI glitch by a bot.
The problem with penny stocks is there are no MMs, so the bid can get thin and all it takes is someone to do a market sell of say 100K shares instead of limit order and it takes it down, but normally it bounces back pretty quickly.
I see this happen more often than not and mostly in the summertime when the markets are slow.
Second day in a row WEED stocks got taken down ... I am thinking perhaps Tuesday might offer some good entry points for short term trades.