Indoor Harvest Corp (INQD)

[TenKay]

It is a buy in only one sense…the broker is covering a set of short sales they made all day long. They are doing this by “buying” the stock at a calculated price from the sellers block position. The price is simply the VWAP of all the sales during the day minus the block fee. It was not an open market transaction.

At the end of the day, the only meaningful result was someone sold 8.5 million shares the owned into the market today on top of the 5.7 million sold yesterday (if it was the same person).

Sometimes I think these types of sellers do it this way on purpose to get exactly the type of misguided reaction that believes someone in the market was buying 8.5 million shares above the bid/ask at the end of the day.

They weren’t.