Turtle! OnePoint! What's up guys? Long time no see. So I got out of SKUL back in August as it was coming off the high around $16.50 for a nice lil profit. Thinking of getting back in today before earnings next week. The price is right. I like some of the Seeking Alpha articles I'm seeing. You guys have any predictions for how next week is going to go? Will we see the usual run-up into the call?
I'm curious as to what's going on with these block trades of 15-25k shares over the past couple of days with generally little price movement.
I know it's already been mentioned on this board a few times, but we're still seeing block trades for exactly the same number of shares in the same day (couple instances of 25,200 shares today, for example).
Pender - Short Covering? I suspect some of these prearranged insider and Institutional trades are going off here and the brokerage houses are shuffling these internal. If there wasn't an agreement to cover the SI then we would see a big POP here. Pretty smart on the Shorty's. It is also possible that some investors loaning shares are selling. That would free up shares to cover as the SI has access to the shares the EXACT SAME TIME as the sale happens. With the share price at the 12 level I would assume there is some panic going on with loaned shares. The right thing to do would be to pull a loan share agreement, wait 3 to 4 days then sell. But if someone was to sell loaned shares... well what would he care if the shorts need to cover in 3 days.
Regardless we saw a nice run up this afternoon. The supply of shares has to be trending down with these block trades. Should run up next week. IMO