Post by
fritz3 on May 11, 2013 10:08am
Possible explanation for yesterday’s volume
From a German website: Perhaps yesterday Discovery Capital Management LLC sold its 18,120,400 shares at a predetermined price, maybe to Southeastern Asset Management, after successfully having installed their board members.
Comment by
robnhood on May 11, 2013 11:33am
That makes sense, especially the fact that the vast majority of the volume was in a very narrow range. The move higher on much lighter volume later could have been speculaters jumping in mistaking the heavy volume for some kind of news leak.