I threw out that number 400k because of the heavy volume today...I have no idea how big the sell(s) were, I am simply trying to shed some light on todays action.
Point being, TKO is thinly traded stock with a small float, that owned primarily amongst very few share holders. When someone tries to dump a large block (a la today), it does big damage, there is not enough liquidity to gobble the shares up.
That being said, there were buyers and they did step in and up when the stock trade down 10%-15%. Likely a combination of the Specialist holding it together and someone adding to their position.
I think someone got a discount today but I have been wrong before, I was convinced that 1.50 was the lowest we were going as that seemed a level of buying interest.
Day of reckoning is soon, this quarters number will be about and everyone can see the progress.
