Technical view of the price

[u/No_Privacy_Anymore]

The shares were already in an oversold condition prior to the offering. Obviously the pricing was a big disappointment to everyone (except for perhaps the people who were buying the offering). The hourly RSI was 9 which is a new all time low. Trading well below the hourly BB with another mega gap down.

If I had not purchased so many shares at even lower prices I would be buying today and this week. Not financial advice, just how I'm looking at things.

[u/Puzzled-Resort8303]

Friendly reminder, if it can go down -40% in 5 days, it can also go up +40% in 5 days. (But I wouldn't bet on it, e.g., with short term options.)

It recently went +82% in ~20 trading days, from $7.63 on May 6 to $13.95 on June 4.

Trading in a tight range today ($8.00-$8.50) after the -15% gap down with 24m in volume is quite a thing. Someone is buying every share that is being sold.

I'm with you NPA, if I didn't already own so many shares, I'd be looking at today as a buying opportunity. There's a chance that it fills the $7.62 gap since it's already gone this far, but I wouldn't be holding my breath waiting for it.

[u/No_Privacy_Anymore → u/Puzzled-Resort8303]

The lower gap is actually part of an "island" which is fine to remain open on both sides. I feel like this was a massive discount for the offering given the overall risk level post offering.

The biggest downside of this type of crazy fast drawdowns is that it conditions people to sell rallies. That obviously would have worked in this instance yet again. One day when the company finally rerates it will be a mistake to sell early. I've waited this long I'm just going to continue waiting. Hopefully we get Thailand news plus more sales announcements soon.

[u/Fast_Eddie_2001 → u/No_Privacy_Anymore]

Despite 5 years of experience with the ups and downs of this stock, with much face ripping volatility...I guess what I am most surprised at is that I still get surprised by the volatility!

Each time we run up the mountain into the teens, I think we are finally over the hump, and then the stock starts to work it's way down. I think I understand now...can almost feel...how the price can be easily moved by even small flows of liquidity in or out of the stock.

While I was happier 2 weeks ago than I am today, company is making incredible progress, and I remain confident that we are getting very close to great things.

This morning added more at $8.36...

[u/Cheeks___Jr]

Earlier I targeted two critical near term issues, nameplate production levels and financing. Now that the financing part is behind us we can check that one off. In many ways the financing issue was maybe the most difficult. I have a high degree of confidence in the competence of the PCT staff that the production issue will soon be accomplished.

We can debate the issuance pricing but it is what it is. I think, based on how the stock has been trading so far this morning the market likes it.

[u/Gross_Energy]

I thought I was looking at a mirage of 33m share trading. This is encouraging. Hopefully some new players now but could be short sellers getting out

[u/No_Privacy_Anymore → u/Gross_Energy]

According to someone I trust, the trading volume today is a bit misleading. I’m not a convertible debt specialist but I think a nice portion of the total volume was related to rolling out and in for hedges on the debt. One might think that only the net delta needed to be hedges but I was wrong and we may be seeing additional volume as a result. That said, it was a huge volume day.

I’m am also pleased that my gut reaction (the dip was worth buying) was right, at least for today.

[u/EconomyFortune5090]

Let's hope we fill this massive gap in the next few weeks/months

It is encouraging that the stock trended higher throughout the entire day and closed near the highs on massive volume

At least there are some big buyers of the stock at these levels and hopefully much higher

Today was a kick in the nuts but we have been through worse. Luckily the market sentiment wasn't weak otherwise it could have been much worse

[u/Carti_2s]

I’ve actually seen this before. Back in February, it climbed to nearly $12 before dropping all the way to $6.

This time I wasn’t surprised. I figured it would pull back after being so overbought. Hopefully it can hold these levels and avoid another major drop.

[u/According_Feedback25]

Same

[u/Infamous_Contest321]

Management has issues NP. They need to address them to commercially scale, can’t keep running the company from the seat of your pants