Today, MLCO was not a major seller until about an hour before the close, when it drove the price down steadily from the high 16's. Same thing happened yesterday. Moreover, almost every rally attempt in the stock is cut short when MLCO, either by itself or working through INCA (my guess), jumps on the ask with large volume. No idea why this is happening, but it is very obvious.
Dave,
I'm long CIEN and hoping that the deal happens, but I do have to report the thought that just crossed my mind. If it is true, as someone posted, that TLAB already owns 6.5% of CIEN, could the MLCO activity represent an unwinding of that position?
Gary Korn
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