RE: RE: RE: June 4 Bankers UP for Sale Highest Bid Thanks Britt for making an intelligent post :) Hope they adress their water and production issues ASAP. Lets hope that June 4 update will be positive one.
Today there was a block trade of 4million shares in the afternoon. Somebody still believe in the company thus bought that block at 1.90. MM's are manipulating share price and creating panic among retail investors. There are 247.7 M total outstanding shares and I believe institutions are holding 55% of them. Today's high volume indicates that bottom has reached and stock is over sold. Those sold at 2.30 - 2.12 either coved or has bought back their position. Last trade was at 4.16 Pm @ 1.91 at bid while ask was 1.92. hopefully it will close 2.10 or higher on monday. Company has working capital and need not go to market to raise money at least in next two years plus its a profitable company with good cash flow. I don't have Balls to buy more but will see trading opportunity once it starts moving up.