Normally, when a small, unregarded company suddenly releases "BIG BIG" news in the morning, the result is a giant upsurge in volume and large run-up in price (at least in the near term).
Leave it to REFR to put even that basic process into slow motion.
On Monday, REFR announced that licensee Dainippon had updated their license to include production of film (previously, they were only licensed to produce badly-outdated SPD emulsions). This astounding developement led to a large upsurge in volume... on Tuesday, and large spike in the price of REFR... on Wednesday.
However that managed to happen, the whole effect comes off as hideously unnatural. Furthermore, with the tight wraps the company keeps on its stock, it's all but a lock that the company has a good idea who was involved in all that trading on Tuesday. Will the rest of us ever be let in on the secret? Your guess is as good as mine.
Regardless, yet another rally has been blunted right at the $5.00 mark that has dominated this stock since last February's offering. So some things, apparently, have not yet changed.
Meanwhile... an old acquaintance has returned to the scene after a lengthy absence. More on that Monday.
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