Thanks for the explanation. Yes, I was really meaning that the volume today represent almost complete turnover of the allocated shares. But why is that, if not shorts covering?
Why the difference in trading action today, where 30+ million see fit to dive into the action at $4.50, versus a fraction of that diving into the fray when the share price was in the two's and three's?
I suppose there's a semi-hard bottom in place here at $4.50, which wasn't the case last year @ $2 - $4, but hardly any upside for the foreseeable future. My question is what is summoning so many people -flippers, traders, whomever- back on to the field here?
The only real draw that I see if what an earlier poster indicated, that axes had shorted this at higher prices and now had the opportunity to close their position. If true, its nice to be party to such win-win deals....the axes get a near double (sell at $7, buy at $4.50), the company gets a quick infustion of cash, and we longs get it right in the rear. |
