RE:RE:Still sellingRelentless pressure on oil/gas and oil-related stocks, including all the frac sand companies-- look at stock charts for SLCA and HCLP. No wonder NI.to is enduring a lot of selling pressure, too, in addition to whatever NWI / Nuinsco is selling.
I guesstimated a few months ago that Nuinsco had about 50M shares, post-split that's 5M shares. If they've been selling off 150,000 to 200,000 (post-split) shares per week, say an avg of 175k/week, it would take them almost 29 weeks to sell off all of that if they kept up the selling on a consistent weekly rate.
But let's say there are some weeks wherein they don't sell; so maybe it takes them 35-40 weeks to sell all or most of their holdings. Frankly, they'd be crazy not to hold off from time to time and let NI shareprice rise up higher.
So, if they're stretching out the selling over about 40 weeks, and they've already been at it for, say, 12 weeks, that would leave another 28 weeks of fairly consistent selling pressure on NI stock or roughly six more months.
But i'm just speculating here....
Maybe at a certain point NWI will have sold as much as they need for the time being, and then they can give NI stock a breather for a few months and not resume significant selling until NI has achieved some more steps and s/p is much higher.
In the meantime, NI is under a double whammy-- energy sector weakness and NWI selling pressure.