Post by
Maxmoe on May 03, 2023 12:39pm
Big curious volume
Usually when I see big volume on a small cap stock like Tcf , there is frenzied speculation about who is selling. Like is Eric nuttal selling one of his top ten holdings. And usually I'm skeptical about the seller being a single, known, shareholder. But I'm also more interested in who was the big buyer, not speculating on the seller. In this case, both sides are a curiosity. There are NO large shareholders to explain where 50 million shares came from in the past few days. Maybe there was double counting by brokers accumulating on the buy side, then crossing in bigger blocks to a third party. Alternatively, there must be more than one buyer or they are very,very close or over the 10% threshold that will require disclosure on sedi. Nothing yet.
Comment by
windymayor1 on May 03, 2023 5:04pm
Largest net buyer of 11.89 mm shares since last week is Virtu ITG. Not even close to being 10% yet.
Comment by
Maxmoe on May 03, 2023 6:59pm
ITG isn't buying for their own account and I doubt any strategic buyer or big fund would use one, and only one, broker to buy for their account. And not dinky ITG to boot. A buyer could be on the buy side of anonymous, with the sell side of anonymous being a different broker. That's one reason big funds use anonymous. To cover their tracks.
Comment by
windymayor1 on May 03, 2023 9:20pm
Interesting you think a firm who has purchased $4.3 mm worth of stock in the last 9 trading days is dinky. They started the ball rolling. One thing we can agree on is that this volume is now instititional not retail.
Comment by
Maxmoe on May 04, 2023 12:24am
Sorry. Rinky dinky. Quick, what is ITG short for? No google lookup! Now try these. RBC,TD,BMO,CIBC,BNS.
Comment by
windymayor1 on May 04, 2023 9:47am
Your level of sophistication is astounding.
Comment by
Maxmoe on May 04, 2023 1:27pm
Thanks. Your grasp of the obvious is Herculean.