Jusme
Nov 13, 12:40 PM
$BCDA BioCardia stock is short sale restricted today following a 400K short position opened yesterday… of which 300k is still short. I noticed that my numerous buy orders yesterday were in constant competition with an algo trading agent which was trying capture the least cost seller’s bid to cover, but remain $.0001 above my bids.
Key point: Yesterday’s huge drop was the result of multiple large short orders - *not* stockholders selling - unless they had open stop-loss orders that triggered when the large short sales were placed.
Today you may be able to buy shares in the $.80’s…. but if the shorts cover their open position, it will quickly retrace into the $.90’s+.
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