Profit taking?
DPRO (drone company) was on a general decreasing trend, when some news came out that Ukraine had bought 10 drones or something*
So I observed as price went up >90% in a day.
Only to basically be back a little higher than it was the next day.
Has everyone gone "holy cow, I better sell" and lowered the price?
View attachment 281856
*possibly, I'm the worst at knowing what's happening with a company
Hi,
With relatively few traders in the market, since a huge number were wiped out in Nov-Dec 2021, it's important for big money to keep market confidence up. That's why the Dow is kept high, it's got huge money doing so, despite most of the market selling down. It's a bear market, being painted as a "fake bull." In a real bull, big money buys, dries up supply, everything rises, like Jan-Feb 2020. They're doing the opposite, hold the Dow up (30 stocks), sell everything else off, since people trust the Dow as the entire market, which isn't the case. The Dow is simply a tool used to move traders around, up and down, in and out, mostly in.
All that is to say, that since there are relatively few traders in the market, they need to paint it to look like there are still opportunities to keep traders in. So any news, "so and so said this," "so and so dropped their hat," anything they can use as news, they will. When the drone story dropped, deep pockets quickly jumped in, bought it up, shares rose, they sold it back down. Basically, a quick P & D. If something spikes up to a 3-4 month sudden high, expect it to be sold down close to or back to where it began. If not the same day, then in a day or two. That's the game, dump inventory, any way possible.
Hope this sheds a little light.
