Still doing some looking into this ARW-v which I'm still holding. It has the appearance of coming off quite a bit on Friday (down .07 cents from .55 close on Thursday), but this is only due to the final trade on Thursday going through at .55 cents which was an anomaly. The trade prior to this was at .50 cents, with the vast majority going trough in the .46-50cent range.
What has really caught my eye is a couple of things.
1) The float is one of the smallest floats I have ever seen on a stock.....only 2,118,255 shares.
2) On Friday they admitted they are in the process of an internet acquisition.
3) Merill Lynch continues to be a <very> aggressive buyer. Since mid August, they are up over 1 million shares (making the float extremely tight). In this month alone (a total of 8 days of trading), they are up just shy of 450,000 shares.
4) Two of their most aggressive days of buying were the last two days, with Merill buying 180,000 shares. What is really intriguing was the price they were willing to pay for the shares, buying over 70,000 shares at .55 and above (and right up to .59).
To my eyes, there's just way too much going on here with Merill for there not to be something good about to happen. Add in on top of their buying an impending internet aquisition and then consider the incredibly tight float, and I would say the necessary elements are all there for a quite decent move upwards.
Regards,
Kevin |
