Cytodyn Inc (CYDY)

[kevindenver]

Correct, the devil is in the details as the problem for $CYDY trades is that new dilutive shares are added to the float daily by market makers accommodating the sell side order flow by warrant and debt conversions.
It's not the T trade that is the issue, it's the context in which they happen that needs to be evaluated.

As discussed, once the 6 month holding period is over for the shares acquired by executing warrants at $0.25 the shares are immediately sold into the float.

Say I had 200,000 $CYDY shares held for the requisite 6 months that I purchased at $0.25 from a warrant exercise and want to sell without dumping the shares to the bid. If I had a relationship with the broker/dealer I would place a "Not Held" order for the MM to sell as much as they can without dumping to the bid. This is called a discretionary trade order and allows the market maker to "work" the order. Once these "off the books" orders are complete they are reported to the tape as a "T trade"

Also explained here: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167231728

Sure, the definition of a T-trade is simply a trade that is reported outside of the normal market hours and are often nothing special, usually a late trade report or manually executed trade that needs to be reported.

Trades marked as "average" are usually prearranged between 2 or more market participants to move large blocks of shares at a negotiated price such as the volume weighted average of the day