It is likely we will hit that at the close of the premarket or very soon after the regular session ends. The problem is the float which is 453M shares.
With the volume of late, I don't believe the stock can continue to sustain large volumes of trading trending up. Prior to the last two days, the average volume for the 9 flat days previous was 41,672,356 where about 20M (est. 50%) were buys. The last two days of uptrending had a combined volume of 205,493,000 where about 153M (est. 75%) were buys. Total buys were roughly 173M in the last 11 days and these shares were held by traders.
But the float is only 453M! About 38% of the floated shares were consumed by investors in the past 11 days. 39,754,768 shares are institutionally-held shares,
bringing the total held shares to roughly 213M shares. That means roughly 240M shares are out there to buy. On a spike up, much of this would be bought up.
I believe a spike is imminent with the rate traders are buying up shares. The spike could be today or Monday if the consumption of shares continues.
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