Sep. 11 at 1:48 PM
$CNVS fake green open. Expect red candle.
that 46k bid block needs to be served.
My hypothesis? it's a close short position.
There must be a quant fund here having fun walking down every single rally.
The pattern is the usual. The BOD makes some announcement with promises, it partially delivers, it uses the run and liquidity to raise capital, so every rally is capped, then passes the ball to a friendly short fund, using insiders' shares to borrow at ridicolously low rates. Rinse and repeat.
If this is correct, the company leverages their stock to finance the new-new idea of their CEO and profits from constantly borrowing their shares. It's basically what I would define as a trading trap.
Unless I see a different pattern, after several months of observing this, this is the core thesis here.
