Yes, typical for Sernova: news with a gap up open and then drift down to close lower than the open. I don't have enough fingers and toes to say how often I have seen that.
The original Level II's before the open told a different story. When I started to look about 20 minutes before the open, there were large positions on the Bid and Ask at 40 cents, i.e. looked like an open at four thin dimes. This slowly was eroded to 39 cents five minutes before the open; see below.
The actual open was $0.335 and it was all downhill from there to the close at $0.295 on 1.4 million shares. Germany traded 461k, which MIGHT have been part of the demand at the open. The US traded 6,102 shares, sigh. At least the Germans understand the strategic significance. The US does not.
I still believe that SVA is being manipulated (down), but I can't prove it. At best it was the computers taking charge from the get go. 033 led the dumping with assists from 001 and 007. 002 did an extraordinary amount of buying. My take is 002 was being fed by the others and used the kiting back and forth to drive the price down.
The closing Bid - Ask of 29 - 29.5 with tiny volumes both sides doesn't warm my heart... as if nothing happened today!
A broker friend said to me today that the pre-open Level II at $0.40 just might be a harbinger of what will actually happen in the near future. This kind of Level II so close to the open and then a walkdown suggests bigger forces at play, BUT when there's enough new buying demand, the baddies won't be able to force the open down like what happened today.
Another observation was there's no $$ for SVA in any of the news. That said, "Sanofi" in the previous release suggests$$ via a hidden potential collaboration, which is possibly why that news provided considerable mileage. All the details in the news were just window dressing for that one word.
As for the renos, the bin for the old cedar shakes was dumped too close to the house and mangled the front eavestrough. It will be replaced at the bin dumper's cost, but I hope matters get better. Tomorrow, cedar shakes start to be removed...
Isn't that always the way! Nothing happens with a stock for ages and as soon as you get involved in a major project requiring your time and attention, the stock issues news, jumps 10 %, spends the day drifting back down to the open price and it's as if nothing happened. Typical !!
Well tomorrow is another day. Hope the Renos are off to a good start.