I am now more convinced that the recent softness in TRNT’s price is due entirely to market conditions.
To be very specific, I believe that a relatively small fund of some type (not a 13F filer) did not want to show TRNT in its portfolio at the end of the quarter, either because they had bought it higher and didn’t want to carry a loss, or because they wanted to purge their portfolio of a stock which appears to be a “high tech”.
As a result, I believe that the fund’s management began selling TRNT on Friday, the 21st, and what could be described as “panic selling” began on Tuesday, the 25th with only a few days left in the quarter. On each of these days, TRNT traded within minutes of the market open. Yesterday, Wednesday June 25th, volume dropped and the price seemed to stabilize. Today, Thursday June 26th, TRNT had not traded as of 11:45, which tells me that the selling pressure is over.
I am completing an Overview of the Systems Integration and Outsourcing industry segment, of which TRNT is a member. If you would like an in-depth analysis of TRNT or a copy of this Overview, please E-Mail me at rmdavis1@ix.netcom.com.
Notice: this post is based on publicly-available information, and is in no way warranted by me as to accuracy or completeness. Likewise, I do not guarantee to advise you as to any change in this information. I currently am a stockholder in this Company and may from time to time purchase or sell this Company's securities. I otherwise have no affiliation with this Company. |
