Someone is accumulating....this stock.
Several large trades went through this morning. 150K, 100K and 100K.
The prices were $4.61. So now the market maker has collared the trade down below $4.60 to accumulate more shares and make a profit on the spread. Plus he knows this share is significantly undervalued and more orders for 100K blocks are coming, so he needs the product on the shelf.
Now that Galleon has risen from the mid 4s to the high 6s, Fairborne is looking increasingly cheap based on it's discount to NAV.
Plus, we will know the new NAV in about a week and a half when Fairborne release their Q4 2009 and reserves report.
Irontiger.