Something's UpI'm looking at the level II today and it looks like something's up. Not sure what it is. Could be one of two things:
1. Someone legitimately looking to sell a sizable position
OR
2. Someone trying to make it seem like they are trying to sell a sizable position
| # Orders | Shares | Bid | Ask | Shares | # Orders |
| 1 | 1000 | 0.570 | 0.590 | 1000 | 1 |
| 1 | 46000 | 0.560 | 0.600 | 10000 | 2 |
| 1 | 1000 | 0.540 | 0.620 | 42000 | 4 |
| 2 | 13000 | 0.530 | 0.630 | 27000 | 2 |
| 2 | 15500 | 0.520 | 0.640 | 16000 | 5 |
Up until today, there were very few orders on the sell side, typically between 5-7 orders repreenting about 35,000 shares (lowest 5 Asks). Today, there are 14 orders on the ask representing 96,000 shares.
Could be tax loss selling, could be someone selling to get into the private placement or could be someone trying to create an illusion of selling pressure.
Either way it was out of ordinary so I thought it was worth commening on.
I think that once the private placement closes we will start to see some real action on this stock.
The 300