123,000 share block traded by RBC at 1:31pm today.It was a massive block trade, categorized as a by-pass trade.
This was conducted on the NEO exchange.
My understanding is that this was a large block being distributed by one entity to its clients. The price was $130. In order to sell the shares to its clients at this price, the seller legally would have had to knock down all the orders to this price. This is what they did, certainly today, as they sunk the stock by over $8.
Basically, this was all manipulation so that this institution could transfer the funds to their clients at $130 per share, rather than at a higher price. They slowly bled the stock down to $130, then executed the trade, and now it all floats back up.
It should be illegal, and it mostly is. It is hard to see if these guys did it legally or not. Certainly anybody who sold at a low price should be upset.