XpresSpa Group Inc (XSPA)

[tobinator00]

Curious trade in the warrants.

We have to take the table scraps and make a sensible mosaic about the past couple weeks of trade. Oddly enough the warrant trade was exceptionally unusual. A total of 251,000 warrants traded hands today. A typical warrant volume day is around 40,000. Today's volume is the highest since.......November 6, 2012 when the verdict was rendered. The closest volume since that time was in early January this year around 170,000.

Someone was vacuum cleaning all they could take at $1.20 yet the warrant's value is $1.14. Most of the volume in the warrants occurred well after the intraday spike. Warrants are very thinly traded with very wide bids and asks. The Warrant Hoover appears to me expecting a large return on his investment and is willing to be stuck with a large warrant position that will likely take several weeks to get out at a decent price if the stock price stays in the $3.00 - $3.50 range.

One other observation here. The stoic bid underneath Vringo does not seem to get the well capitalized shorts to flinch. When we trade flat-lined in a 3 cent range for hours on end, there are shorts just digging in their heels and giving the market everything it will take at a set price. This looks more like an effort to stifle the price rise as opposed to get the highest stock print to short to achieve the best return on the trade.

http://stockcharts.com/h-sc/ui?s=VRNG&p=D&yr=0&mn=4&dy=0&id=p57700612870&a=298953728&listNum=3