I was able to catch the last half hour of trading today. After a big volume morning turned into a fairly slow volume afternoon, GMGC traded over 500,000 shares in the last half hour. In addition, Form-T trades have added another 250,000 shares as of 5:15 EST. Over 235,000 of those shares have been at 2 5/8 (the ask) with a few above and a few below that price. The 235,000 included trades of 100,000 shares, 52,500 shares, 20,300 shares, and 22,500 shares.
I am tempted to think news is on its way, but I fear all of the craziness is related to the smart money just playing around with us. I guess if these guys are just cleaning up their positions it is a positive to see it happening at higher prices than we have recently seen. At a minimum, it sure was a bizarre day.
Any thoughts?
Seconds Out. |
