$BNGO The short term movements should not bother you if you are a long term investor. Our short term movements will be similar to the index which is mostly based on macro events (inflation/interest rates/pandemic/election/trade war). The times when we diverge from the index will be during earnings or news (be it good or bad). That's when the institutions will make their "moves". Around 75% of institutions are long-only while the remaining 25% are either short-term/short-only/long-short funds. aspeninstitute.org/blog-pos... It helps to understand which entities are moving the market over varying time horizons so you don't get frustrated everyday over the price movements. 1) Short term movements - Day traders - Algos (Main liquidity provider because we and long term institutions aren't selling everyday!) - Mostly short-term/short-only funds 2) Long term movements - Long-only institutions with their huge pockets (Mainly buys during the dip when people panic sell) - Look up the Wyckoff Theory
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