BFLY was down 19% today. It was the 8th largest drop on the Nasdeq. Of the 10 stocks on the Largest loser list for today, BFLY had the second highest volume. Missed Number One by just a few thousand shares.
The stock was Pumped and Dumped. LONG Position Pumpers were selling and to add insult to injury, it was heavly shorted as well.
Short term this could come down to who has more cash in their margin accounts, the shorts or the Longs. As of today, the Short Sellers can Short the stock even more, using their gains from today or dig in their pockets for more $$$ or hold pat and let the margin grow.
On the other hand, those who were LONG and are down a lot, will have to average down ( BUY MORE SHARES ), Sell and take the loss, hold out and wait for a Margin Call.
In Short, no pun intended, Margin calls are a nasty thing. This stock is going lower.....
If you are Long term, no big deal.
If you are Short to Mid term, ouch.
I have been in this seat before, everyone has. It's not a fun seat to sit on. Glad I saw the Pump and went short for the Dump.
No offence meant to anyone, just stating the facts and my expressing my opinion.
Instock
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