Bear market for penny stocks17 Jul 2023 22:35
Truly savage what some previously high flyers are dropping to. After the CEO raided the market and even bought 2 lots of 50k close to 14p this year you never thought you'd see selling at 10p again especially after the recent positive update but this is what happens to "unpopular" stocks in quiet phases, nobody buys and one by one people lose patience and sell and then the mm's go into no bid zone which means anybody selling more than 5000 might have to take discounts.
Personally I think selling now is crazy, you have diversity and the boss both buying size and both going over 20% each recently at much higher prices. I must admit I have stopped buying more in this market, cannot fight the market but I still hold a lot of these shares, it's disappointing to see them at 10p when they were 18p high a few months ago