I think the huge problem is the artificial run up in April after the Midas letter.
That run up had nothing to do with the midas letter. Just like this downturn has nothing to do with that horrible Seeking Alpha BS.
I'm starting to think that run-up in April had to do with the rumoured approach by Google, to which POET said no. Imagine saying no to a 5 billion dollar offer or roughly 25 bucks a share. Total speculation on my part, but would make perfect sense.
The volume right now is also very interesting. A lot of people are panic selling given what the rest of the markets are doing, and that's playing perfectly into the hands of the accumulators. But it's still a sharp increase.
