WHO IS BUYING INT?INT has been a trading stock for a sometime but somewhere over the last few days a group or fund decided they wanted to own this at all costs and steam rolled everybody in their way.
As such, at least some of this comes from short-sellers that have been squeezed into ridiculous and furious covering.
But that still leaves the question of who is behind this MASSIVE push.
Yesterday’s action was $80M and today's action was $175 millions. That’s a cool or HOT quarter BILLION (yes, that’s a billion with B) alone in 2 days. This is the mother and father of all massive buying!
This is also way beyond excited retail investors and this level of buying always comes from big buyers, funds, institutions, groups and this time around from Americans (probably) that wanted Ortsbo but got rejected last month when INT decided to go it alone.
Several huge market sell orders were pushed through today when the price was above $3. Some groups sold 3 million shares at market which drove the price down but then the same groups bought 15-20 millions at a much lower price. Retail investors don’t have the power to do that.
It only says one thing – a group or fund has their eyes set on it.
I don't see any other explanation. I've watched many juniors run on massive gains and decent volume that squeezes shorts - but this is another beast all together and I can only imagine where it goes next - $5, $10, $25, $100?
If the thesis of buying volume is correct, this could very well be the beginning of Canada's first Web 2.0 value explosion and INT could be sitting at a $1B valuation by end of summer.
I own some shares and I will hold for $20, at least.