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Cinedigm Corp. Message Board

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  • tajctda tajctda May 24, 2011 12:54 PM Flag

    almost every trade this morning is listed as a short sale

    I have a decent size position so want to see CIDM go higher and believe the end of year numbers will have it do so. Possibly to $3-4/share. However, this trading activity this morning did surprise me. I would say more often then not with this type of stock this activity was from an institutional investor given the info on a private placement at lower prices for CIDM. This investor then shorted all stock he could above that offering price and will effectively cover for a guaranteed gain by participating in that private offering. This practice is illegal now after years of abuse. However, IT STILL GOES ON. I talked to a hedge fund manager the other day who just did what I described only a few weeks ago. That is my guess as to what accounts for the activity. If that's what plays out, I will contact the company and SEC. The evidence is pretty clear.

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1.36-0.03(-2.16%)May 27 3:59 PMEDT