fascinating observation from Yahoo:
WWG,
On your advice I was looking at Monday's intraday chart. That was the day that ANCR gained 5 1/8 points, on no news. To recap the day, ANCR opens at about 20, then meanders in a lazy uptrend, until she hits 20 3/4. Once she hits that price, she goes ballistic, gapping up to 22+. I see huge volume (550K) in about ten minutes. For the remainder of the day, its all institutions, buying big at the ask. Up 5 1/8, no news.
What's going on? 20.75/share x 24.1M shares = 500M Market Cap.
Portfolio managers, restricted by their Prospectus to investing in companies with market caps of at least 500M, jumped all over ANCR the very minute that she showed up on their radar screens. A dozen or so PMs were tracking ANCR and pushed their BUY buttons the instant ANCR made 20 3/4. IMO, the HUGE volume spike at exactly the 500M market cap price is beyond coincidence.
This is extremely bullish. It says that the big buyers are waiting. As ANCR's market cap increases, more of them will be able to add ANCR to their portfolios, and so on.
IMO, the next big market cap thresholds are 750M and 1B. If shares outstanding remain at 24.1M, then the "elephant in the bathtub" effect should be seen again at prices of 31 1/8 and 41 1/2.
Bottom line: Add in some action from the Russell, and this stock is gonna fly.
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