Post by
jcw604 on Jan 10, 2021 12:54pm
The 3.5 bidder
Bid: $3.50 Lots: 634 Ask: $3.51 Lots: 23 It seems that these NRs were helping the 3.5 bidder to get his shares cheap. Don't know if the bidder is SIR corp or an activist. It will make sense that both types of people will be interested to do that. For SIR corp, the more they can get at less than 3.55, the less they will need to buy back if the transaction ever run through. For an activist, he certainly needs to accumulate a lot more to have more say to the transaction. I believe it is the later.
Comment by
flamingogold on Jan 10, 2021 6:30pm
For a sleep stock like this one, it is not often a bid that large gets put up. We will see tomorrow if it holds for the open and if filled does another large bid get put up after it, then we will know someone is seriously looking to accumulate.
Comment by
jcw604 on Jan 11, 2021 2:40am
The bid will be gone in the morning, and after people are scared and start to sell and when multiple sell orders asking at price lower than 3.5 are being placed, the bidder will come and scoop them all up. That is what I observed in the last few trading days. This is a no brainer place for storing money.