Forum Topics SGI SGI Pull back

Pinned straw:

Added 8 months ago

Big seller on the market the last few days. I took a nibble. Does anyone have an idea who it is?

mikebrisy
Added 8 months ago

@lastever there is nothing in the public domain I am aware of.

in the last 2 months it’s ridden up all the way from $0.19 to $0.28 on no public news, and recently all the way back down to $0.20 on no public news.

I was wondering whether the bad update on $BAP had a read across for distributors, but there is no consistent pattern.

Average daily volumes over last 2 months are around 300k or $60k, so today’s 2.3m was likely a big seller, but at “big” we are still talking only about 2% of SOI. But a big volume for this stock.

Both on the up and on the way back, I put it down to illiquidity.

I also added a bit more today in RL (+15%) and SM.

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UlladullaDave
Added 8 months ago

I think this just swings like an illiquid microcap. Back in November 2023, it moved from 16.5c to 25.5c and then came all the way back down to 18c by January. This one has been pretty violent on the way down. Quite something to behold. Lol

My best explanation would be a trifecta of a "large" seller wanting out, a bit of general market malaise and that leg up in the SP in February probably dragged some hot money in that is looking for the fire escape. Risky business chasing momentum in microcaps.

I've bought a bit over the last few days, irl.

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