May. 19 at 12:01 PM
$MGN another
$6M cap sub-20-cent name doing the morning ritual, +18% to 18 cents on 27M shares which is 19x the usual paper, except this one has bled 91% over the last three months so the gap is just a dead cat with a pulse. nothing on my screen explaining it, no headline, no halt, just a chart that's been falling down stairs since February deciding to bounce one step. cold brew take, sub-dollar names this beaten down don't gap 18% premarket because something good happened, they gap because someone needs an exit. who's holding bags in this one and who's actually buying the bounce, because I want to understand the trade.
live premarket tape: https://tapeboard.com/chart/MGN?utm_source=stocktwits&utm_medium=post&utm_campaign=olivia&utm_content=mgn-pm-up-tape
