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Correct me if I am wrong, but it appears that the Avant! officers submitted a reg S-3 to offer 1,256,000 shares of their personal holdings! In other words, they want to sell their shares! Maybe I missed it, but I don't remember seeing anyone posting info concerning this offering. What really baffles me is how this stock could shoot up in the days preceeding the arraingment of all the officers and the corp. on eight criminal charges!!!! I have two theories. One is that the company is trying to pad the price before the drop when the news comes out. Which would also help the SELLING of the officers stock. The other is that the Mutual Funds, which we all know hold a large block of this stock, are buying up the price in order to either sell or carry them through the price crash. Last year I had a short position in TER. On the day that the Dow dropped 250 points, TER rose over $2.00/share! I couldn't understand what could be happening. The next day their was a block trade of 4,000,000 shares!!!! The price immediatly dropped below where it had been. If you invest a couple hundred thousand in order to buy up the price, and then sell, you have profited almost $8,000,000.00! Not bad, and may be what is happening here. But I would have thought there would have been more selling today. Maybe Monday, before the news of the arraignment gets out. |
