Looks like that stock buyback program announced earlier is really kickin in.
Company must think more to the downside before this issue is undervalued.
Well someone was buying today, at the offer. Fahnstock was offering 5000 share blocks all afternoon at 2 dollars and he kept on getting paid. Sold at least 30,000 shares this way, if not 50,000...at the end of the day he appeared done and NITE (knight securities) stepped up to the plate and had 7000 shares offered for sale at 2 dollars...
Someone is buying as soon as the stock appears for sale. The company? Or someone else? Can't tell you that, but whoever was getting out certainly was able to do so easily and quickly without moving the price........;^)
P.S. I don't think JMAR would buy everything in one day anyway...they are more likely to nibble on the way down, perhaps 50-100,000 shares a day for maybe 20-30 days, and probably only on days when the stock is weak....days when there are no sellers will likely see no company buying...remember, 2 million dollars at prices below 2 dollars will buy well in excess of 1 million shares. Anyone anxious to get out for whatever reasons now has a chance to, but the company will not pay them a premium for their stock. They will shake 'em out as cheaply as they can, to get the most bang for their buck. Then once the next piece of good news comes, there will be no weak hands with stock overhanging the market. It should rise on less volume and stay up. |
