$Palantir Technologies Inc.(PLTR)$ 160At the start of June, $SoFi Technologies Inc.(SOFI)$ had no news and was in a complete freefall. I'm seeing this with other stocks too. It looks like a computer algorithm locks onto the share price and keeps walking it down. Probably as simple as too much retail interest and not enough institutional ownership. So the bot locks onto the price and walks it down, creating forced selling in retail accounts while institutions accumulate.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
