Looking at it today, it looks like there are still plenty of shares from the conversion that may still come to market, albeit with a limit that will become more finite and well defined as accumulation continues and more filings pile up. The change in direction of the market for these shares seems it was driven by the recent filings showing that those shares that are coming to market are being snapped up by institutional buyers, which seems to have changed market perceptions of the dynamic. Sellers seem more reluctant, now, to push them out at whatever price the market gives them. Certainly the changes in the larger markets over the last few days have helped make XJT look like it is a pretty good place to have your money right now... with an uptrend just established, and turning the corner on accumulation vs. distribution seems it is supporting that turn.
Otherwise, the market situation that is hammering stocks generally right now is a timely net benefit for XJT... to the degree that it will provide a backdrop for negotiations with the unions that may encourage some greater flexibility, if not a rush to conclude a deal.
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