Posted On: 01/06/2014 1:14:26 PM
Post# of 11899
That is higher than average volume yet still only represents about 1% to 2% of the total shares in the company and there is no telling how much these daily shares are shuffling (churning).
IMO for the stock to trade healthily and support a strong move to the upside at least 25% or greater shares in the float need to trade (1:1, actually from a unique seller to a unique buyer and then remain). The issue for traders is there is no good way to know the current size of the float. One can call the transfer agent but I just do not know if they will give out the float figure, they should at least tell you the size of the O/S and A/S but the float may be another matter and it could be changing with each high volume day. Last official figure had the float at half a billion shares, so assuming it has doubled since then via IronRidge offloading over time, then if we assume 1B shares then IMO we would need to see about 250M trade to see some healthy "action" in the stock. Though the increase in volume is definitely a good sign. Volume precedes price. All just my own speculations and opinions, of course.
GLTY
$RFMK
IMO for the stock to trade healthily and support a strong move to the upside at least 25% or greater shares in the float need to trade (1:1, actually from a unique seller to a unique buyer and then remain). The issue for traders is there is no good way to know the current size of the float. One can call the transfer agent but I just do not know if they will give out the float figure, they should at least tell you the size of the O/S and A/S but the float may be another matter and it could be changing with each high volume day. Last official figure had the float at half a billion shares, so assuming it has doubled since then via IronRidge offloading over time, then if we assume 1B shares then IMO we would need to see about 250M trade to see some healthy "action" in the stock. Though the increase in volume is definitely a good sign. Volume precedes price. All just my own speculations and opinions, of course.
GLTY
$RFMK
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