Post by
MaterialsMan on Jan 03, 2024 5:52pm
Trading pattern
Of course it's nice to see ELVA up 5 & 8 % respectively in the U.S. and Canada.
And on a down day for the markets. However, even at 4X and 3X on volume respectively, there are still very few shares being traded. 75k in U.S. and 30k in Canada.
I suppose there are two ways to look at it. Either the shares are in tight hands, or no one is lined up to buy.
In my experience, if it is a temporary blip, the gains will be given back in 3 or 4 days.
If the increase in SP holds up, that would be a good sign that fundementals are in place.
I hope it's the later, but I wouldn't bet on it.
Comment by
MaterialsMan on Jan 05, 2024 5:58pm
Nice bump. However, even though it traded about 15x average volume in the U.S. it looks like about 90% of that volume came on a single purchase right at the close. Kind of an educated guess, but I think someone bought a million dollars worth of ELVA (250,000 shares) at 4p.m. Does someone know something we don't know? We'll have to see what happens on Monday.