InvestorsHub Logo
icon url

Sola Fide

10/14/10 11:24 AM

#36738 RE: Staten #36733

I'm thinking that may be how they got their 4m shares....through funding rather than buying in the open market.
I hesitate to say it was worded as it was in the press to suggest there was a fund buying...but, I don't think that is actually the case. Note, it was a short sentence at the end of the press, with no lead in...just tossed out there.

Assuming the float is pretty tight, 4m shares bought in the market would not have allowed this to drop to its yearly lows.
Also of consideration, is they would still be buying down here if they were so struck with the potential of profiting...they would accumulate all they could. $50 - $60k would buy 4m...not a big investment for a fund, especially if they thought they could double their money in short order.

It is a thought, they could be the pressure manipulating to accumulate on the cheap? Doesn't take much to move the bottom ask, ETMM & NITE holding hands on both sides..