The bulk of it may be attributable to the increase in the float.
Their average daily volume since their filing on 10/04/2007 has been 33,884,039.47 excluding today.
The total shares traded since 10/04/2007 is 508,260,592.
Today's volume was $285,987,328.
If you subtract the average daily volume of 33,884,039.47 from today's volume of 285,987,328 you get 252,103,288.53 which is a little more than half of the 400 million that the float was increased by.
I've also noticed over the past few weeks that when ever they introduce new shares after hours they do so many times in increments of 9 million. Looking at a snapshot of today's level II activity since 1:38pm there are seven 9 million share transactions. Looking back at my Level II print outs for the past few weeks all but 1 intraday transaction was for 9 million shares. The data leads me to believe that most of the transactions today were for new shares being introduced thereby increasing the float.
0.0001 2250000 OTO 15:49:11
0.0001 2700000 OTO 15:48:38
0.0001 300000 OTO 15:47:58
0.0001 5000000 OTO 15:46:52
0.0001 9999999 OTO 15:34:17
0.0001 500000 OTO 15:31:14
0.0001 2500000 OTO 15:29:17
0.0001 1250000 OTO 15:09:42
0.0001 500000 OTO 15:04:39
0.0001 2000000 OTO 15:03:24
0.0001 500000 OTO 15:02:15
0.0001 1000000 OTO 15:01:54
0.0001 2330000 OTO 14:57:26
0.0001 100000 OTO 14:55:44
0.0001 3500000 OTO 14:39:13
0.0001 9000000 OTO 14:39:12
0.0001 9000000 OTO 14:38:59
0.0001 9000000 OTO 14:38:59
0.0001 2000000 OTO 14:38:59
0.0001 2000000 OTO 14:32:28
0.0001 6000000 OTO 14:24:40
0.0001 1333434 OTO 14:20:31
0.0001 3000000 OTO 13:50:38
0.0001 2500000 OTO 13:46:23
0.0001 1000000 OTO 13:43:10
0.0001 9000000 OTO 13:43:10
0.0001 4420000 OTO 13:38:40
0.0001 9000000 OTO 13:38:40
0.0001 9000000 OTO 13:38:39
0.0001 9000000 OTO 13:38:39
Always let the results of your research and the numbers tell you what to do!
