I just combed as best as I could...and there is no news yet that I can find. But consider this...vol was 35,000 and then the stock dropped down by a full point on only 15,000 more shares traded. Following that, almost 300,000 shares traded hands between 7 and 7 1/8. Someone bought a lot of shares at that level. I picked up a few more at 7 1/8 today...something seemed fishy about the low volume drop of a full point. Recall what happened shortly after the stock spiked down several weeks ago.
OK...editing my message...folks, if you can, access the 1-minute intraday chart from Quote.com...at
fast.quote.com
Depending on your browser, you need to click on the appropriate button or menu to get the intraday 1 minute or 5 minute chart as opposed to the daily chart.
It looks fishy. A thinly traded stock was given a goose down to $7 not long before the close on miniscule volume. Then, starting at $7 or thereabouts, 100K shares was immediately traded, following by another 150K or so by the close.
Now I think a takeover might really be in the works. Based on this "new" price level for the stock, I wouldn't be surprised to see a million shares trade over the next couple of days, and because stock is being shaken out by this scare, whoever is buying will be able to do so without paying $10. I am sure whoever wants it fully intends to buy it all the way up to $8 or $8 1/2 though, and they can now do this. |
