Interesting, however, I fail to see where GMGC's price increased 'dramatically' over the convertible price. Second, most institutional holders don't play with sub $5 stocks, they aren't shorted, and the volumes of sells/shorts to buys don't jive. Given the long term price drop for GMGC, I can't imagine that any of them bought much lower and are trying to restrain the unbridaled growth in share price...
My personal suspicion is that what is happening is much less contrived and more fundamental, shall we say, than that. The 50 institutions involved own less than 11% of GMGC, and their net holdings dropped by over 3 million shares last month. GMGC is burning cash, they aren't generating income, Markman has released information ill-timed to common shareholder's interests, and despite all the gee-whiz, neato technology, we don't have the kind of business arrangements lined up to make the stock go anywhere anytime soon.
I will note that I picked up another 10k at 3 17/32 today for the purpose of a)trading, and b) holding if something does happen, which is doubtful.
lastshadow |
