Quantum Gives Back Nearly 25%

Quantum Technologies (NASDAQ: QTWW) gave back nearly 25% or $.67 in trading today. A correction after a run-up from a price of $.50 just a few short months back? Surely. The question however, remains "why?"

I can't force myself to believe that the dip had anything to do with today's drop in oil prices, trading has not proven to be quite so closely tied to the commodities' daily performance.

My guess is that some institutional holders may have taken some due profits off the table, in turn creating a surge of retailing selling in fear that the proverbial sky was falling.

As I could not justify splurging on shares in the $1.28 range and up, the drop today does not shock me. However, if we see this one go sideways for a trading session or two and the market realizes that nothing has really changed since before Monday, we could see the stock pushing back up to the $3.00 range for more profit taking.