Don't have any idea why it's trading down here.
Given the volume and his recent buying, Chandler must be picking up some of the shares. He has bought in excess of 7 million shares so far in December. Senate,one of his vehicles, now holds more than 30 million. As you'll see below, there are other vehicles, however.
I am happy to ride his coattails.
I certainly hope everything I have read about him wanting to be a passive investor is true because he will soon be in a position to do essentially as he pleases. His SEC filings so far suggest that he indeed intends to remain passive.
In reviewing the actual filings, I have come up with something mildly interesting.
The NASDAQ site suggests that Senate - one of Chandler's companies - owns more than 30 million shares. Now, the latest filing for the 1,350,000 shares purchased on December 18 suggests that all of the Chandler affiliated companies now own in excess of 65,000,000 shares or appx. 24% of the float.
secfilings.nasdaq.com
I have not yet seen anyone, except Cooters, of course, recognize this huge number [it was 22% of the float when Cooters discussed it last a few days ago].
Why is 'the market' voting that this accumulation is negative for the price per share?
Is this an anomaly? Do you believe in anomalies or efficient markets? If you think markets are efficient, then sell, sell, sell....something is up and the downdraft is somehow reflective of the bad news. If you think an anomaly sometimes comes around which can be exploited....buy, buy, buy.
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