<<Therefore, why the great move on huge volume???>>
Here's my guess. There are a lot of institutional investors involved in this industry, and ARTT would come up in their analysis of TGNT, WCII, AGRPA, et al. While ARTT certainly was an obvious value below book, no one would be willing to be the first in the game when a) the company has no funding beyond the middle of next year and b) the stock has no momentum.
The first thing necessary was solving a). The combination of WCII showing decent line growth has given the wireless business a little more credibility and enhanced the value of ARTT's licenses. More importantly, perhaps, is that TGNT has begun selling its services recently to a lot of buildings in NYC, which not coincidentally includes a lot of buy-side managers and sell side firms. This puts an added accent on the ARTT licenses and its business. A few "value" players start buying the stock, and, finding it to be illiquid, buy a little more aggressively so that they can have a decent size position. thus, a little momentum is established. With momentum and a breakout above $5, the more timid (read bad) buy side firms start to buy, and like lemmings, they feed on each other.
I know this isn't as much fun as "someone knows something" but that's my guess. |
