RE: Sierra SP down 9.1% at close3 Aug 2021 23:12
Working/ Krone, apologies if I am talking rubbish but Sierra has around 85% of shares owned by institutions. There is only a relatively small float so the share price fluctuates widely on sometimes very little trading. As such, news such as a SRA737 combo could send the share price to $100+ Very quickly. I am wondering if this share price drop is the sign that something is about to happen. The company seems to have a close relationship with institutions some of which are big hedge funds. Is this a plan to get them another chance of buying shares at a low price prior to the news announcement?