My gut feel is that this sort of selling down is usually symptomatic of tail end selling, ie end of the order sort of stuff. There's been 11.15 mill through since listing (according to my calcs, which is close to 30% of the free float (which I'm guessing is about 38 mill). Thats pretty good turnover for a stock this cheap. I'm buying more today if I can
Low risk IPO entry, page-17
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