$2.70 to $20.45 then sharp crash and slide-off🔥 $2.70 to $20.45 on NASDAQ:TURB
657% move in a day on massive 141 million shares traded volume
But why did it suddenly crash and how was that even possible on big supportive 141 million shares volume when actual float of the stock and shortselling shares available are only 5 million?
I'm talking about new highs move from $15 above previous high of $19 to $20.45 then sudden drop in seconds to $14
What happened was a nasty manipulation, they designed it that way.
They knew they don't have enough shares to short available to create that kind of crash, only 5M shares total and all of it was already reserved by shortsellers so what they did was they were buying with other accounts while they were short to create large long position, then once at $20 they added all they could on short size to max out that's what stopped the new leg higher of $20+ vertical and if they didn't have the long position bulls would easily keep it supported and squeeze it even higher, but they had long position so what they did was drop whole long position 2.5M shares sell market order at once which created massive 25% - 30% drop from highs in a few seconds, this created double top, scared bulls, saved their short position even if their long got terrible fills but more important shortsell position gained a lot. Similar thing happened with WLDS when it got to that $11 area ready to explode a few days ago then smack down.
Got to keep an eye on this new trick they're trying to play. My trade had $19+ target area so all good but still, good to understand what's really going on in the background at these important levels.
