RE:RE:RE:RE:RE:7500000palinc2000 wrote: It was reported as a Form T trade which is required for after/before hours trading on Naz
SABBOBCAT wrote: Trogarzon wrote: A cross is not an OUT... also if it was really a seller.. you really needed a buyer... probably a tax move. We'll know one day I guess...
Was it a cross? I cant see on my feed?
My best guess is it was Morgan Stanley selling, given their shareholdings of right aroun 7.5 million as of 9/30) in a year-end window dressing exercise. If the buyer was a broker who is doing their client a favor by taking the position of their hands, then the selling pressure will abate somewhat a s the broker will be looking to make a profit on this trade and has more time to drip it out onto the market. So, we might see a small bounce but probably not a huge one as the broker would likely want to get at both quickly and profitably. If, on the other hand, the stock was sold to a scavenger type investor, we might see a more immediate and substantial bounce as the intense selling would stop as this investor would be playing it for a much larger bounce. Given the size of the transaction though, it does not appear that Morgan Stanley was the seller recently since they seemed to still hold the same position size they held on 9/30. So, the selling might continue if it is other sellers who have been pressuring the share price and not Morgan Stanley since they may have more selling to get done before the end of the year.