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Friday, April 29, 2016 7:07:47 PM
The 8-K specifically mentioned the closing date of April 28 (give or take a few days).
What that announcement did was create a reason to buy and hold.
During that hold period the stock would rise in price because people believe that something fantastic would come.
That allowed noteholders who converted - this is in the 8-K - to sell without worry that shareholders would bail. The share buyers thought something fantastic was coming .... it would be crazy to sell.
As I said before, the only reason this ought to move is if there is an update and the deal closes.
Now, could today's move be manipulation? It could be.
But unless we get news .... it seems more like noteholders bailing.
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