Dude, half a mil to a mil a day in volume is "insignificant"? Maybe on a daily basis, but this is going on constantly. Over a month, VCN is trading probably 15M to 25M shares. That's a LOT of shares for its market cap. OK, day traders, blah blah, but where's the margin for the DTs in Vulcan? Even if, as with ADY, 60% is rabid day traders and short positions, you're still seeing 8-20M shares a month of real trades going on.
No, for me this is all about people ditching into strength fighting those who are buying into the dream. Only when the sour-taste sellers are de-risked will this fly. If Vulcan gets above its last issue price, only then will the scared and disgruntled investors calm down and hold on because they are in the money.
Don't get me wrong; plenty of upside now the company has ditched the silly hydromet white elephant. But it needs to climb to a certain point before it will stabilise into its rising trajectory and begin consolidating real value for you.
Until then, turbulence.
VCN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
