Glenn,
Any idea why KNOT is down quite a bit in the last couple of days? On less than 30k shares, it has dropped from low $4's to low $3's. I have a few scenarios. Either 1) this is one illiquid stock 2) bad news has leaked and is causing near term pressure on the stock, or 3) market makers or others are moving the stock down to accumulate in advance of good news (positive earnings, takeover, etcv). Given the low volume, I think it is a combination of the #1 and #3 scenarios. What you do notice on the intraday charts is that the stock is often taken down on <1000 shares and then a larger block is moved at that lower price.
In fact, I think an acquisition of KNOT would be a good move by some of these internet based companies - IVillage, Yahoo, MSFT, etc.
I have to believe that online advertising is doing well given Yahoo's performance and that the company's businesses (publications, merchandise sales, etc) are doing well given that this is the prime time of year for organizing weddings.
I wonder...Perhaps I will try to accumulate more.
Tom |
