is that a big buyer (more likely an institution than a fund) is tippy toeing in with smallish block buys.
Nyah, an institution would have let it drop all the way down to $1, and then snatch the thing at bargain prices. Whoever bought today already owned shares, and made quite an effort not to let it go down further.
Let's speculate further:
All in all 865,000 shares were reported as traded. Since NASDAQ double counts, volume was actually closer to 610,000. But wait, quite a few of those were arbitraged shares, as Corel seemed to spend most of the day at a lower price at the TSE. So all in all, about 500,000 shares were bought at an average price of 1 13/16. Ie less than a million dollars in purchases, and still the buyer was unable to keep the price above 1 13/16.
Since a million bucks is chump change for a mutual fund, we have to assume that either some insider or perhaps a small VC who already owns a chunk of the stock tried to keep this bathtub afloat.
$1.50 by new year's!!!!!! |
