Why did so many wait so long to sell warrants? Why did so many people wait so long to sell their PVG warrants, or sell their stock to exercise their warrants?
I am taking a look at the statistics, and fully a million warrants were traded in a two day period, or roughly 500,000 a day. Previous to this week the the daily trade volume was often 50,000 or less. Yet so many people waited until nearly the last moment and the results have been disastrous. Just a week ago the warrants were nearly $5.00; now they are selling under $1.00. Why did so many people wait until the last moment? Were they waiting for still higher prices? Or did they just forget?
TC
| 03/22/12 | 1.10 | 1.18 | 0.80 | 0.92 | 543,075 | -0.46 | -33.33% | 0.92 |
| 03/21/12 | 2.41 | 2.45 | 1.19 | 1.38 | 456,844 | -0.89 | -39.21% | 1.38 |
| 03/20/12 | 3.80 | 3.80 | 2.13 | 2.27 | 148,776 | -1.85 | -44.90% | 2.27 |