Fellow longs, here's what I think is going on here
Post# of 1525
Posted On: 01/27/2016 4:45:52 PM
Fellow longs, here's what I think is going on here. Now this is clearly conjecture, as there is only limited information available - the excellent fundamentals of Progressive Care, what's going on in the industry in general, and what we can observe from the price and trading action.
I'll leave it up to individual investors to speculate on the root source of this, but I think there must be a large standing order (one or more) to fill at "best price." This would explain why the MM's are working over several days to keep the price down - repeatedly blocking the ask and moving the block from one MM to another. Note that there was a T-trade in the range of ~180K shares recently, and the price was near the HOD. I mentioned to someone at that time (PM? not sure) that it was unusual to see the higher price hidden in a T-trade like that. We know there is no dilution going on, and something else has to explain why 2 MM's hid those trades in a T-trade.
I believe the MM's are accumulating a large share quantity for a standing order (or more than one), adding a million or more shares daily - if/when they can get them. Someone may be trying to buy up any loose shares from the float. Or maybe they want the float? Something of the size I expect - maybe 10 to 50 million shares, or even more - may take quite a bit of manipulating. Will be interesting to watch this in days ahead, knowing what I know of the number of shares currently being held by just a dozen or so long shareholders who I keep in regular communication with. Good luck to whomever it is. See you on the topside with all my shares
I'll leave it up to individual investors to speculate on the root source of this, but I think there must be a large standing order (one or more) to fill at "best price." This would explain why the MM's are working over several days to keep the price down - repeatedly blocking the ask and moving the block from one MM to another. Note that there was a T-trade in the range of ~180K shares recently, and the price was near the HOD. I mentioned to someone at that time (PM? not sure) that it was unusual to see the higher price hidden in a T-trade like that. We know there is no dilution going on, and something else has to explain why 2 MM's hid those trades in a T-trade.
I believe the MM's are accumulating a large share quantity for a standing order (or more than one), adding a million or more shares daily - if/when they can get them. Someone may be trying to buy up any loose shares from the float. Or maybe they want the float? Something of the size I expect - maybe 10 to 50 million shares, or even more - may take quite a bit of manipulating. Will be interesting to watch this in days ahead, knowing what I know of the number of shares currently being held by just a dozen or so long shareholders who I keep in regular communication with. Good luck to whomever it is. See you on the topside with all my shares
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