I think that NN and the BOD hoped to take advantage of the momentum build. They too use TA, and saw a favorable opportunity to release the information. Such information on a Friday allows people time to digest the information over the weekend, instead of putting a trading stop in place in the middle of the week.

The fact that they thought that a RS was a good idea is far more concerning to me. They just did a $4mil PP in the beginning of the year, which should give them sufficient working capital for some time, considering in the last 5 years, they have only raised about $10mil. What are they planning that will require going for financing again so soon?

They really need to learn how to give out information in the correct manner....