Why does every stock sell off explained away on HC as manipulation, stop raids and evil short sellers. Its quite ridiculous and irrational imo. I was watching the puke on friday and it was very clear that there was an algorithm at work on the sell side. I assume this was somebody with a large holding using the algo to dump their stock. First guess would be outgoing CEO Patrick Linden who held approx 13.8mill units, or perhaps another large holder who has the inside scoop on a potential boardroom dispute. If it was Pat Linden we wont know, as he wasn't a sub holder or director. Note total volume done in the 3 days since the announcement is 8.33mill, so if it is Pat Linden and he intends to sell his entire holding in a hurry there maybe further pressure on the stock in the short term which would offer a great buying opportunity imo.
E88 Price at posting:
29.5¢ Sentiment: Buy Disclosure: Not Held