sorry to say back to an E on IBD...someone got out not in...either a new trader fund to the game or someone that was already in took the opp to sell at .50 and above...or are they trying to shake us out...starting from scratch again...accum at .44 to .46
I assume it is institutional accumulation too. Thursdays volume spike was 300,000 more than average. There are some high quality fund managers who have a stake in Heska. Perkins Capital, Renaissance, Vanguard, Gamco. Most of these funds have had a stake in HSKA for a long time. They haven't bailed out because they believe its a turnaround scenario and there is no value in selling at the bottom. Some are possibly adding to positions. Typically, you don't see value fund institutions buying penny stocks selling at .50. If we continue to see more accumulation it is definitely bullish.
It is amazing how the stock can drop by 6-10% on a couple hundred shares but increase by less than 1% on a couple hundred thousand shares. It does appear that someone is fishing for stop loss orders or trying to "paint the tape." This is what can happen on a thinly traded stock and may happen even to a greater degree if/when there is a reverse split.
Gator, I could'nt agree more. Manipulation or no...someone came in late yesterday and bought more than 300k shares at .50. This is 10 times normal volume. Makes you wonder about the timing? I wonder is there is better news brewing?