Feb. 2 at 6:50 PM
$ICBU there’s approximately just shy of 200 million shares being dumped on this stock. It’s most likely the company itself. Have a look at my prior post.
Why is this happening? Offering shares after news is released is usually referred to as gun jumping by the SEC. We know for certain they have to file their annual and Q4. We anticipate that being within the next three weeks. I would anticipate that report shows a shortage of cash, but the press release says they have an influx of cash now with the shares sold. The float size is not increasing because the shares sold come directly from the company.
It remains to be seen where we go from here. All I can do is report what I see for you all and hope that they put out some good news that hits national readers.