Okay, Lu hits 2:80 20 minutes before closing. After this, two large blocks of over 1.5 million are sold right before the bell for 2.77. The stock closes at 2.76 with two orders of 100 shares each. How does this happen? How do you hit 2.80, sell over 3 million shares in less than 30 min, then then close 4 pennies lower?
As you can expect, I don't know a damn thing about stocks.
yesterday that late in the trading day, those buyers knew something to make those huge 1 mil+ block purchases at a time that make no sense to others. especially with what the stock had been doing, trend, and info out at the time.
after today, my take....insider info prompted those huge buys that late in the trading day. great news (Hmmm) the very next trading day resulting in gains. those 1 mil+ blocks can net 70,000.00 just from today
SEC needs to check those out, but probably to small for them to mess with them
alot of selling can drive it up and alot of buying can drive it down. looks like alot of both was going on in offset timming.
look when LU did the earnings and the shares went to 2.39. HUGE MONSTER blocks were bought and bought. the stock went right back to 2.70 something and then settled lower because the earlier buyers (below 2.55) were later sellers and johnny come latelys were buying.