RE:RE:460,000 shares still sitting on the ASK at 19¢, SP 17.5¢Pushing the price down to accumulate more is the obvious reason to offer such a large block of shares. If so why now? Does mr. big block expect good news?
I don't think that it's enough to induce a panic, just a slow grind lower as people lose patience and decide that they might as well lock in a loss rather than wait for higher prices that will only be marginally higher as long as the big ask is there at 19¢. So we wait ... and wait.
StevenBirch wrote: I think that offering is intended to get some to panic sell, and it has worked for some the last few days, but not a lot of volume has traded.
Unless someone came along and took out that offering they could pull it at any time so maybe it is being used to try and accumulate one last bunch of manipulated cheap stock.
We'll see but if that person REALLY wanted out they would be marching it down a little more agressively, even if only to attract a buyer, so we wait ... and wait.
ChupacabraBueno wrote:
The big seller seems in no hurry to get filled as their order is now almost 10% above the last trade. If the order was placed for the purpose of pushing the SP down, it has certainly been effective. Not much chance of getting filled unless some good news comes out.
Anything else that could be pushing the SP lower?