So DLX put up decent earnings and guidance pre-market, and got a little pop out of the gate then proceeded to tank. You can see that there's no liquidity at all for small caps. The stock was barely trading this morning when I flipped 500 share I bought yesterday.
Had I known it was gonna tank right after I sold I would've bought some puts, lol. Funny thing is that they guided $6.65 - 6.95 for the year which puts them at less than 7 P/E ratio with 2.74% dividend yield. If the market wasn't topped out I'd be buying back the 500 shares, but as you can see there's no liquidity in small caps. When the sell order comes in, it's a straight out tank. It's interesting that it managed to hit both resistance and support all in one day on 7x average volume.
In any case, watch out for small cap stocks, no liquidity at all when they sell off. Explains why small caps haven't been able to make a new high, nobody wants to buy.
Had I known it was gonna tank right after I sold I would've bought some puts, lol. Funny thing is that they guided $6.65 - 6.95 for the year which puts them at less than 7 P/E ratio with 2.74% dividend yield. If the market wasn't topped out I'd be buying back the 500 shares, but as you can see there's no liquidity in small caps. When the sell order comes in, it's a straight out tank. It's interesting that it managed to hit both resistance and support all in one day on 7x average volume.
In any case, watch out for small cap stocks, no liquidity at all when they sell off. Explains why small caps haven't been able to make a new high, nobody wants to buy.