More musings
Since there is nothing else to talk about here are a couple of obversations in case someone may be interested, or in case someone else is just bored.
Yesterday the GTCB trading pattern was bizarre. Much of the time the spread between bid and ask was only .0001 cent. For a long while in the morning the bid was .6101 and the ask was .6102, with a trade of 100 shares at the bid about each minute. After several minutes there would be a trade or two at the ask (to reload maybe), and then the pattern would repeat. Discounting the final tape painting trade at .59, this went on almost all day.
I can think of no logical reason for that kind of activity unless someone was trading with himself (at practically no cost) for the purpose of pinning the pps. Why would someone do that? Possibly because there is some kind of deal coming that is share price dependent?
Which leads to the other obversation. A few days ago (April 30th I believe) the following was posted on Yahoo by "stocktradinggenius":
"Based on word of mouth, the current partnership negotiations are 95% complete and the deal should be signed/announced prior to the upcoming earnings release. There has been stickiness over the partner wanting to include a purchase price buyout clause in the agreement based on the success of the DIC trials. No specific numbers of deal size or purchase price were known. Will update when hear more."
I know nothing about "stocktradinggenius" except that he has been around for several years (going back to the GENR days so maybe Dew knows more) and his predictions about upcoming deals have been fairly accurate. He missed a couple (although there were deals in the works which did not pan out) but he hit one precisely in March ... to the point of predicting the exact buyout price.
Just something to muse about on a quiet Saturday.
AI
