If we are going on the premise that funds/institutions are dumping because it is under a $1, let's look at the volume since it closed under $1 for the first time (Sept. 18th):
Sep-25-2001 0.63 0.64 0.41 0.45 32,367,700 0.45
Sep-24-2001 0.72 0.73 0.55 0.63 16,087,900 0.63
Sep-21-2001 0.66 0.66 0.58 0.64 9,485,900 0.64
Sep-20-2001 0.68 0.76 0.62 0.68 14,671,100 0.68
Sep-19-2001 0.89 0.93 0.58 0.75 21,962,000 0.75
Sep-18-2001 0.96 1.0 0.77 0.84 9,546,700
Since then the total vol. has been 104 million. Then (I believe nas counts volume of a buys and sells twice), only 52 million shares have been dumped.
Funds and institutions own 292 million shares combined.
Therefore, if my assumptions are correct, 240 million shares more are still heading to market (minus any shares they sold before Sept 17th but after their holdings were last posted). |
