Avid Bioservices Inc (CDMO)

[chenzo11]

The only thing I can think of is that someone did that small sell order to avoid a margin call. Suppose this person was short say 100K shares. At $1.41 and +.08 over yesterdays close. This person would have incurred a loss of $8000 today and may have forced a margin call (I doubt it, because $8000 out of $133K shouldn't trigger a margin call, but its the only reason I can see for this happening).

My broker, Etrade, refreshes the account balances at 3:00am, thus at 6:30pm you then sell 250 shares for 1.37; your cost of that transaction is $342.50, but your trading account is then increased by $4000 (1.41-1.37 x 100k). Thus avoiding a margin call.

Second possibility... you want to artificially manipulate the stock price in an attempt to get some sell orders the following open. Most can see through that and the low volume is not going to trick most share holders

I know this sounds crazy, but it is the only reason that I see to make such a small AH trade (to bolster your own account). If anyone has any other reasons, I would like to know what your thoughts are.