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Tuesday, June 24, 2008 10:01:56 AM
In the last 10 trading days, there have been 17,746,900 shares traded.
This seems like a huge percentage of shares trading. The question necessarily arises as to where these shares are coming from and who is trading them.
If the T/A and SOS are correct, this represents an astronomical percentage of the shares changing hands in 30 sessions. If you consider the number of people who are likely holding and the quantities they are holding, this means that these shares are turning over multiple times per week.
Given that the price hasn't moved that much, the pure profit motivation by active flipping doesn't quite hold. It also doesn't seem like it is active accumulation since the shares still seem to be "flowing freely".
An alternative thought would be that someone is generating volume purely for the sake of volume and doing so at a probable cost. Would anyone have such motivation?
Anyone with any interesting thoughts on this? (other than the usual scam theory as that one is pretty well established)
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