I’ve noticed that shortly after a significant conversion (in this case one of PLSB’s notes probably got converted down at $0.0004s), the same “Family” (TOXIC) Fund will put an order of $10K-$15K worth, to “buy up the market” to make it look like a rally is coming (ie to lure more suckers)! This “rally” is usually short lived but it’s effective enough to create a higher (price) basis from where to unload their recently (and deeply discounted) converted shares!! That’s how they try to trade their way out of situations like PLSB (ie decreasing share prices and low relative liquidity)! Those who know that side of the business will understand what I’m talking about. - SMH
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.