4.84 is somethign that was created by a market order purchase of the 130million shares. If you noticed, the stock actually closed @ 4.74, then 132m worth of orders were cleared out for the next 10 cents (GTC orders).
Question is, was this an investor buying to hold, or a FORCED buyback of shorted shared. I would have to say that it was the latter.
Sadly enough, more and more people are getting sucked into this game, unfortunately, when there's is a run for the door, these same people will get trampled. And then ask themselves - What happened!?
Sounds about right:
Investopedia explains Window Dressing
Performance reports and a list of the holdings in a mutual fund are usually sent to clients every quarter. To window dress, the fund manager will sell stocks with large losses and purchase high flying stocks near the end of the quarter. These securities are then reported as part of the fund's holdings.
Another variation of window dressing is investing in stocks that don't meet the style of the mutual fund. For example, a precious metals fund might invest in stocks that are in a hot sector at the time, disguising the fund's holdings, so clients really have no idea what they are paying for.
Window dressing may make a fund appear more attractive, but you can't hide poor performance for long.
Absolutely not. There was a willing buyer for this lot. If someone decided they had to sell 100 million shares and quickly, the stock would drop to the levels at which people were willing to buy that many shares quickly.
When a stock jumps huge on a major number of shares trading hands, it is only because someone put out a buy order for 100 million shares and wanted them now. He couldn't buy that many at 4.70 so he bid all the way up to 4.84 before he could find enough people willing to sell to him 100 million shares.
Right, I know when I want a stock, I want it at a higher price than the ask. Sorry, something else is in the mix. And, there is no news alerts what so ever on this transaction, either way.
or maybe, someone was forced to cover their short position. Its very simple to do actually - lend someone 100 million shares (and you are the only sec lender), and when you want to, just say "i want those shares back". Bam, they are forced to buy at whatever price before the end of day.