Large gap to fill to $6. Lots of people shorted based of this charts price action finviz.com/quote.ashx?t=RENN&ty=l&ta=0&p=m but as I look further I find this is inaccurate. If this breaks $3.20 again it has no previous resistance till $6 and the RSI is very oversold sellers look to be exhausted.
The $9.19 drop is due to renn selling off the most profitable part of its business. All that’s left is the non profitable side and that’s why it dropped from $10 to 1.xx
RENN isn’t going to trade at $10 again since it’s assest that supported its market cap are now gone as of June 21st
RENN isn’t going to trade at $10 again since it’s assest that supported its market cap are now gone as of June 21st