Why weird trading on ARCI? Because there seemed to be an almost unlimited number of shares available in the .60's yesterday. I know because I bought several times. Even though there was only 1 share on the ask. Could buy 3,000 shares at a time. Bang. Bang. Bang. Didn't move the ask at all. Then today the stock is 30% higher...and there's a buyer snapping up every share he can get. I sold several times. Didn't even dent the bid. Then the stock tanks back below .70 later in the day, and is even halted. If that isn't weird trading, not sure what is? Don't get me wrong, I'd love to see more stocks jump 30% in a day on no news. But haven't seen that in awhile.
Why not take a quick 20-30% profit in this market? I wish I had sold them all so I could buy back at .70. Yes their recycling business should be booming. But unfortunately that's only 1 of their segments. The much larger retail segment has been struggling...probably flat numbers at best in 2016. And the byproduct segment will be down huge this year with the collapse in commodity prices. So even a much stronger recycling segment doesn't mean ARCI is cleared for launch. It jumps around a lot, so I view it more as a trader. While keeping some shares as it should pop up over $1 at some point.
