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Mitek Systems, Inc. Message Board

  • gminer20 gminer20 Jun 28, 2013 6:54 PM Flag

    1.4+ Million Shares After Hours

    I fully understand that by even asking these questions, it shows my inexperience, but it is what it is.

    If those are funds buying, WHO is selling 1.4+ million shares? Why are the funds buying AFTER the market closed? Why were all of the shares within the $5.7743-$5.78 range? Wouldn't they have wanted in EARLIER in the week near $5.25?

    I'm a little confused. Can someone with much more of a clue than I (not going to be too difficult) offer some insight as to what occurred today after hours??

    Thank you in advance for your reply.

    Sentiment: Strong Buy

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    • I've been doing this for twenty years. If you figure anything out, let me know.

      My theory; A guy says, "Look I have x amount of big gobs of shares to cash in but I can't just drop them because demand is not there to soak up sudden sale. I can wait."

      So the MM ( I guess) says "O.K. I'll keep that in mind and let you know."

      Later on, another guy (or several) says the same thing - except in revers- he wants in. The deal is made. Demand equals supply. The forces counteract each other.

    • It's index funds rebalancing portfolios to reflect the new Russell 2000. Russell 2000 is the most widely used benchmark for small-cap mutual funds and money managers. The Russell 1000 is also a popular benchmark for large-cap managers. Together they comprise the Russell 3000. Index funds seek to match their benchmarks exactly in up or down markets, and so use computer-driven algorithms to pick stocks and portfolio weightings which will achieve that goal . Since the Russell was reconstituted today, new additions had to be added as close to the close as possible. Indexers, market makers and arbs have been setting these trades up all day, then execute them at or after the close. Rebalancing can sometimes lead to price dislocations in the short term, but it doesn't appear to have been significant in MITK's case.

      By the way, if this dow18k clown doesn't know this, then he's a pretender. Experienced small-cap investors usually know all about it.

      Sentiment: Buy

      • 3 Replies to rspiland3
      • Thank you for the thorough and informative explanation, rspiland3. Very much appreciated.

        With the secondary offering out of the way, hopefully MITK will be back in the $6s this upcoming week.

        Sentiment: Strong Buy

      • Oh-oh, yes I'm the great pretender
        Pretending that I'm doing well
        My need is such I pretend too muchI'm lonely but no one can tell

        Oh-oh, yes I'm the great pretender
        Adrift in a world of my ownI've played the game but to my real shame
        You've left me to grieve all alone

        Too real is this feeling of make-believe
        Too real when I feel what my heart can't conceal

        Yes, I'm the great pretender
        Just laughin' and gay like a clown
        I seem to be what I'm not, you see
        I'm wearing my heart like a crown
        Pretending that you're still around

        Too real is this feeling of make-believe
        Too real when I feel what my heart can't conceal

        Yes, I'm the great pretender
        Just laughin' and gay like a clown
        I seem to be what I'm not, you see
        I'm wearing my heart like a crown
        Pretending that you're still around(Still around)

      • I agree with you same thing as a pre-arrsnged transaction so nothing to get excited about and nobody else knew the exact details of the jump or offered a rational explaination until you vame along so thank you.

    • I'm not sure either, but this is not just for MITEK, it happened to all the stocks that went to russell 3000... VRNG had over 4 million traded AH...and it was the same thing.. all at 3.169

    • Just a pre-arranged transfer possibly of the secondary shares to cover short position. A gift from Jim Debello.

      • 1 Reply to dow18k
      • Agreed nothing but games for a month and then we'll see where the investment stands. Debello should have made them pay with more pain. But, I expect he got his cash and USAA now has a formidable foe should they want to continue the trip to nowhere. The mobile banking stuff is powerful and I am surprised you are so against the move ahead. I just stood in the line the other day waiting on some dude with pants have down to his ankles with piercings and body art who had no clue holding up the line. I would just soon not be in that line.....no offense to the young man...but everyones time is valued equally when in a line and mobile capabilities give people with valued time options and it saves money for the banks.

 
MITK
3.45+0.08(+2.37%)Apr 17 4:00 PMEDT

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