For those retail participants keeping score...
Since the PR & 8K re: the loss of CVS/Caremark's revenue stream for Main Ave (BUT, it is important to remember that we do not know whether this loss is temporary vs permanent and we do not know the magnitude of the loss), we have traded over 2.5M shares over the past 5 trading days.
It is interesting to see that even before this precipitous fall over the past 5 days, the VWAP was already in a 3-day losing streak even BEFORE the PR & 8K re: CVS/Caremark was issued.
The VWAP on 3/3 was approx .178. It has since fallen for 8 consecutive trading days, with the approximate VWAP over these 8 subsequent days being:
.175 (3/4)
.171 (3/5)
.169 (3/6)
.150 (3/9)
.141 (3/10)
.132 (3/11)
.123 (3/12)
.114 (3/13)
It is easy to see that for the first 3 days of the decline in VWAP, the daily decline was very small, which is indicative of a stock going thru a slow bleed trying to maintain support -- but in a very delicate and fragile situation where news one way or the other will likely send it soaring or crashing.
And so it is of no surprise that we see the next 5 days of the declining VWAP be of much greater magnitude each day -- as the beginning of this 5 day period coincides exactly with when the bad news in the PR & 8K re: CVS/Caremark came out.
What is REALLY interesting is that the daily declines in the VWAP this week ever since the PR & 8K came out has been EXACTLY THE SAME: A drop of exactly .009 each and every day.
Granted, my VWAP numbers are estimates, but I am applying my estimating methodology consistently so each day is still a fairly reasonable apples-to-apples comparison w/regards to the VWAP.
It may simply be an eyebrow-raising coincidence... ...or it may be that the big seller each day has actually been the same person each and every day (or group of similarly-positioned individuals) who are trying their best to manage their dumping in a methodical and controlled manner so as to not cause an all-out cratering too quickly (yes, folks, as bad as the drop has been, it could have been a lot worse)... ...but again, it may simply be a head-shaking coincidence that becomes the stuff that urban legends are made out of, LOL...
