I would think that the volumes you speak about would not be necessary to carry it to the price point of 3.90 or beyond....despite the dilution to OS.
Reasons are several:
1). HDK warrants likely will be exercised if they are not already being done so...giving GTE at least $7-8 million in cash...cancelling doubt about immediate cash needs.
2). Continued institutional accumulation will gobble them up.
3). Increased retail awareness of promise will add fuel to drive.
4). I don't expect a drive down due to end of year tax balancing as some expect...too good a potential balancing hold to dump.
5). Besides, most retail if they bought near high are almost even...and psychologically, if held thru the dip won't dump, but add as feeling vindicated.
6). There is less and less selling pressure to overcome to move higher by apparent grind of action....on relatively tepid volume.
2-3 times daily volume should about do it.
Not 6 to 10 times.
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