I was just looking at this trading a bit more. From July 1st to July 17th we trade 1.1 million shares for half a month, including the 333K on this last Friday (July 18) which gave us the 20% pop.
Now look back on the pop in mid June, where from June 12 to June 17, we saw 1.6 million shares changes hands in 4 trading days going from .65 to and intraday high of .96
| Date |
Open |
High |
Low |
Close |
Volume |
Adj Close* |
|
| 17-Jun-09 |
0.95 |
0.95 |
0.83 |
0.92 |
111,600 |
0.92 |
| 16-Jun-09 |
0.91 |
0.95 |
0.90 |
0.95 |
222,600 |
0.95 |
| 15-Jun-09 |
0.86 |
0.96 |
0.86 |
0.88 |
524,300 |
0.88 |
| 12-Jun-09 |
0.65 |
0.86 |
0.65 |
0.85 |
776,000 |
0.85 |
You have to wonder what transpired in mid June?
This last day's trading again smells like news on the horizon, but we have seen nothing released. It has to be much more than simply the CIBC holder drying up for stock to sell at the best bids? Simple supply and demand forces being extremely favorable for once?
But then again maybe it was this :)
