I am trying to follow the logic of your statement. The problem I have is this: SGLB is a thinly traded stock. The last 50 days, the average number of shares traded is just north of 1.2million per day, thus in a week, only 1% or so of the float changes hands. Not all of this is accumulated. Some is short sales, some is flipped, some is from folks who have lost patience waiting, some is bought like many on this board who are accumulating with a long term perspective, some is bought by folks looking for a swing trade. What is the percentage that might have been bought by the folks who are now dissatisfied with the near term outlook and who will "divulge themselves of this security"? How long have they been accumulating expecting that NOW is the make or break point in time? Assume the past 6 months. Even if these "expectant accumulators" had been responsible buying for 25% of the shares traded each day during that time, which I would think is a very high estimate, we are still talking about a small percentage of the float. 24 weeks at 1% per week is 24% of the float. 25% of that is nearly 6% of the float. I doubt that any single "expectant accumulator" has been grabbing these shares by themself, but for the sake of thinking it through, I will go with that. If this person were to "divulge" themself of their shares, giving up on the expectation that SGLB will deliver the goods in time, I still find it hard to believe that they would not make a controlled exit. A sudden "divulgement" would cause the pps to crater with trying to get out of 6% of the float when 0.2% is the average daily volume. I do not buy that they would just give away their shares to get out, trying to jump the volume by a factor of nearly 30. Assume that they wanted to get out in a controlled way and would get rid of 10% of their shares each day for two weeks. This would still be a jump in daily volume - tripling it. If they had less of the float, they would have less impact on the daily volume. If it were several "expectant accumulators" then the percentage of shares "divulged" would drop accordingly, absent some sort of co-ordinated actions. I just do not see it. If it were to occur, even assuming a much smaller percentage of the float as being involved, during that "divulgment" I would expect that there would be other accumulators, not the "expectant accumulators" but those who have a longer term vision to step up and buy the discounted shares of those trying to get out. Maybe there could be some downward pressure on the pps for a short time, but I just do not see the limited percentage of the float having the consequence you are seeing. I also doubt that the accumulation by this individual or small group has been going on for 6 months, thus lowering the potential percentage of the float that they controlled. If they were accumulating a significant position in a lesser period of time, I believe we would have seen a move north and larger volume on a daily basis.
