RE:Trading pattern..at openI would say the trading pattern on this stock is somewhat meaningless when the volume is this low.
You have a spread that is at times 15cents apart. Then someone dumps 100 shares on the bid. I can't interpret anything meaningful from that.
I know this is not what you are asking, but here is how I see the impact of this thin trading. Out of 19 million shares outstanding 7.9 million are owned by insiders. Essentially, they control the company.
The largest shareholder, James Meekison, owns 4.2 million shares and he bought in at $5 per share. He is 78. Mike Sonnenfeldt wanted out last year, but was abel to sell only part of his shareholding.
So one of two things will happen, IMO. Either CMH will grow its earnings significantly and allow them to cash in above $5, or at one point the whole thing will be put up for sale.
BRAGGCREEK wrote: I hold this stock and have noticed many times over a long period that the opening trade or two is low (say 4.20 like today). Then the price drifts but that opening trade or two is always the low for the day.
It may close at, say, 4.30 but will open the next morning for 4.20, or thereabouts.
Any ideas what is going on and why?