RE:What's with the very late buy orders?Toppert1 wrote: 60,000 shares or 70,000 on the bid late in the day every day is a big order for a stock with a 30-day average volume of 64,688 shares.
It's only 40 grand or so, but with these volumes it's effectively creating a floor for the stock price.
Forty grand is nothing if you're planning to sell millions of shares privately, outside of the market.
Sedi reported the sale of 5.6 million shares by Pascali today to his father's estate as an " acquisition or disposition carried out privately "
Any acquisition or disposition carried out privately must be done at prevailing market prices.
It's still happening, we're still seeing those late bids.
When you see another off-market "private transaction", you'll know for sure where those late bids are comming from.
40,000 bid at .59 at the close???
Hahaha.
That bid won't be there at tomorrow's open