wilyolvet,
As promised, I looked back at the Brink Hudson selling for the past month. I have to say, that theory about them selling to hold down the price looks pretty good after seeing the numbers.
The first trading day after the financing was Monday, January 22. Until Friday of that week, the price remained relatively stable in the low to mid 7's. On that Friday, the price made a nice move up, and signaled the next weeks wave up to $9.20. Coincidentally, that Friday was the first day Brink started to sell.
As the price moved up over $8, Brink started to sell heavier. As the price moved back down under $8.00 their selling slowed considerably. Today, no selling by Brink yet.
It sure seems like Brink is happy with the price in the $7's but not in the $8's. So far they have sold 100k shares, a small amount to get a possible 1,000k at a discounted price to what they just sold at!
It may be totally coincidental, but the theory fits very well.
joe
PS. See my next post for the Brink Hudson numbers (they need to be posted with fixed spacing) |
