'M1DD' pid='42014' datel Wrote:Fundy_ - I like the optimism, but I think you're dead wrong. Retail could not have pushed the price from $18-$9 in a matter of days. There is no institutional buying support and definitely seems that there is a massive institutional sell-off going on.
I don't think I was being optimistic, just realistic. Consider the "flash crash" that happened not too long ago, which dropped the price some 20% within minutes. To this day, we have no idea what caused it, but it has passed the 10 day mark so we know that it was no institution. My point being that the price of a security can drop dramatically via retail on high volume, especially on a stock like NQ that has such an incredibly small float that's not tied up by institutions. Considering the prices most of these institutions got in at, they would be losing millions if they sold now. Most got in after the Muddy Waters debacle, so they are clearly betting on the audit coming out clean, and nothing that has happened since ER would suggest otherwise. Selling for a large loss at this point would not make much sense and I don't see any logical institution doing it. Perhaps I'm giving institutions too much credit though, we'll find out soon enough.