Post by
atrickpay on Jul 07, 2009 9:58am
Big seller from Canaccord just dropped the price o
One seller from Canaccord just sold 1.0175M shares!! Because this stock is thinly traded, his sell took it down to a price level of 3.5c. I bought a position with what I can afford at that price. There's more available at that price now--51K. As the stock doesn't get much attention, arbitreurs haven't come in to buy it yet...
Comment by
atrickpay on Jul 07, 2009 10:09am
I thought this was kinda funny...that guy selling a million shares this morning here, only sold a value of around 35K! 1M *0.035=35000.That's crazy that that little money, can have such a big impact. Lot of arbitrage opportunities (ie. to buy cheap) in a thinly traded stock like this when someone does something like that.