Capping the price @ $3.10, then $3.00I find it uncanny that millions upon millions of shares can change hands, and yet the price hardly budges! What on Earth is going on? As many investors have noted, the price was capped at $3.10 on Thursday, as blocks of shares were systematically placed on the ask side each time a previous block was erased. Even a voracious appetite from a seemingly unlimited number of buyers was not enough to overcome the clout being exerted by some mighty player(s).
Unbelievably, the same systematic market manipulation was evident on Friday, except this time, the upward pressure was checked at $3.00. Very interesting.
For those seasoned investors in our midst: What might this mean? I don't believe I've ever seen such clockwork execution before. Why would anyone want to unload their shares at a fixed, lower price when it seems likely that more favourable returns are possible? What is the hidden advantage (if there is one)?
Any comments would be greatly appreciated.
I