In case anyone is wondering how much "dumping" is going on, here's some facts for ya:
In the last 2 days of carnage, 223,000 shares traded. THAT'S ABSOLUTELY NOTHING COMPARED TO THE FLOAT AND THE AVG VOLUME
Under $14 3/4, a whopping 3500 shares were sold.
Between $14 3/4 and $14 15/16, 27,800 shares were sold.
At $15, 43,500 shares were sold.
Between $15 1/16 and $15 7/16, 74,000 shares were sold.
Between $15 1/2 and $15 15/16, 41,800 shares were sold.
At $16 or above, 30,900 shares were sold.
Now, think about it. The day we hit $12 3/4, over 700,000 shares traded and the vast majority of them traded at $14 or above.
So, someone wants Pamc out of their portfolio before the quarter ends. Whatever the reason, it is their business. But it's not like they're selling a ton of shares. It's just that in this market environment, no one is paying up for anything. In other words, it is the worst possible time to sell anything. And especially in this stock, where the market makers simply refuse to make a market in the stock.
So, when you look at the charts or whatever to see the daily prices or range for the day and you see $14 1/8, don't freak out. 300 shares were sold there. In 2 trades. Most of the volume the past 2 days was at $15 or more.
I'm not saying this BS is over. Who really knows (except the seller)? But I am saying that if you think you wish you had put up that 5000 share bid at $14 1/8 hoping to get shares to hold or to flip, forget about it. They're not selling any to you there.
Hoping for a better day tomorrow.
Good luck. |
