Did anybody notice the sudden jump in aggregate number of shares bid. In the course of morning trading the volume jumped by 1 million shares from around 1,200,000 shares to 2,200,000. The new buyer asked for 200,000 at each level of $1.65, $1.64, $1.63, $1.62 and at $1.61
There was no trading at these levels but it certainly put a bottom to the selling today. After closing these bid were withdrawn, it will be interesting to see if this strategy is repeated next week.
I do not know if these bids were placed by one broker or not , nor which broker(s) placed those bids. Just curious what purpose, if any, is behind the strategy.
Add to My Watchlist
What is My Watchlist?
