This was a nanofloat (sub-million float) that dinged at $3 in the PM (pre-market). I was MOST fortunately on my morning meadow walk when this happened, otherwise who knows what would have happened. It went straight up opening at $7 and then more than doubled to $15.06.

Apparently the clearing brokers screwed this one up by making it ETB (easy to borrow) so everyone could short as much as he wanted at $3, then they figured out their mistake and when I got back I had to pay $1,147 (.099 a share) to borrow it, which I was damn grateful to do. But it still doubled on me, lol.

Had I shorted $3 in the PM I probably would have pulled my stop, added to the loser, and top ticked out exactly at $15 because that’s how all pro traders handle things in reality. Anyway CING went sideways all morning then dropped 60% into the close handing me and everyone else a SCRATCH (minus borrows). I’m sure there were people who lost everything in this 638% mover.

Study the table below the chart, it’s the most important thing to pay attention to.