RE:RE:RE:RE:RE:Suntrader. If I might share my thoughts on your statement...Damn1212 wrote: @ Tru
So bill is saying Fidelity Shorted the stock , AND dumped millions of shares on the bid at the same time ?
I have a hard time what the point of that would be ?
The spread between the Sell of short shares and the buying of the shares to cover would just be eating away at the BROS selling price on their shares .... Hence canceling any gains.
Is he saying the Bros and Fidelity acted together in tandem to do this ?
Yes, Bill was saying that DBros used Fidelity to unload their shares...Fidelity was the 3rd party.
The mechanism that Fidelity chose to do this was by shorting and then doing block trades to cover. That was Bill C.'s theory, and he had market data to back it up. He monitored the sales carefully, so I think he knows what he is talking about, and it also makes sense. Because unloading so many shares on the open market is likely to put pressure on the SP, shorting was safer for Fidelity. Rather than buying a million shares first and then hoping to sell them without collapsing the SP (which was unlikely given the volume being sold), they did it the other way. Short the hell out of the stock, and then cover with a private trade from 3DB at a lower price.
I suppose it does not matter the exact mechanism through which Fidelity sold shared for 3DB; I just though it was interesting.
Cheers.