Trading mechanics question(s): Regarding the AHS: does the 1.5mil transaction represent a) a market maker taking the risk of purchasing all those shares for its own inventory (albeit at a currently attractive price), b) a pre-arranged transaction between a buyer and seller at a pre-arraned price (but wouldn't that be a private sale and bypass the tape altogether?) or, c) something else?
In reference to a) above: I'm not sure that a market maker would shackle itself with such a relatively large position on its own. The attractive price is very relative (a couple of weeks ago, .40 would have been fairly rich. The low float seems to me to argue against a market maker incurring such risk).
In reference to b) above: Could two concurring private parties do such a thing through the tape? That would seem to me to contradict the efficient public market presumption that is the basis for bid/ask movement.
Another question: since the trade was done after hours, what will the "last price" show when the market opens tommorow? The heart of this question goes to transparency: if the last price stays at .64, wouldn't public perception be mislead (the very gremlin whose demise is the aim of so much securities regulation)?
Is there anybody here who has some real clarity regarding any or all of these issues? Your thoughts are much appreciated.
AI
