This is not quite a rolling stock on a regular basis, but it may be in the middle of a very big roll. IGRM has dropped from $6 to $1, mostly in the past couple of weeks. They just released a press release saying that they are not aware of any reason for the drop, that they are profitable, nothing has changed etc. Investor relations said on the phone that an investor dropped a big wad of this stock to free up money for a fast opportunity, which started the sell off.
Bid ask is up and firming after the press release. Only one sale today, vs many buys. Yesterday was the first time the stock dropped below $1, which scared some into selling. There had been little selling in the days before, but bid ask kept dropping. Maybe MM trying to unload excess stock. I've posted other info on the IGRM thread for those interested.
Earlier, posting under my real name*, I suggested TOWV as a fast rolling stock. It immediately stablilized. Oh, well. On Oct 1, it released news that it received a big chunk of cash as part of an earlier financing agreement. There has been much speculation about TOWV not meeting financing payments and going into bankruptcy. The stock is up about 50% on the news, but it is my understanding that this is not really 'news,' just confirmation of a milestone in an earlier agreement. The bankruptcy is still an issue. Look for this to set off wild price swings, though, which can be used as fast 'rolls'
*Not being sneaky now, just prefer some anonymity. Well, maybe sneaky, but no evil intent... |
