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$VIAC I think a major reason for lack of movement here is that the price action looks bad to the algorithms. Most algos would say companies under their 200 DMA are bearish. A company that goes down while the indexes go up is bearish. The algos can’t read between the lines that the price action was due to one man overleveraged and the catalyst was a massive raise of capital over $80 a share.Jdkealy, published August 14, 2021
What’s worse about the 200 DMA is that the 200 continues to go UP as the stock goes down, due to the crazy price action last year. I.e. we’re drifting further and further away from the 200.
The fundamentals however are strong and when we do retake the 200, it will generate lots of momentum. But will it take 200 days to cross the 200? Once last years peak is more than 200 days away, retaking the 200 is more and more likely, making the stock more attractive to the algos.