The last trade of the day for IOT was the biggest (1,500 shares out of a total of 5,300 for the entire day) and it was for $1.85 MORE than the last trade. It went from $20.00 to $21.85 in one trade!
Why would anybody with a brain do that?
This is another tainted Gene Philips enterprise. You can slowly accumulate these shares without any worry of a permanent runnup in price. I mean, what's the darn rush???
It looks like somebody purposely wanted to drive the price up.
I suspect that it was "Gene" trying to attract attention to his now "profitable" entities. (Yes, even Gene can make money in real estate...the bubble must be about to burst!)
Additionally, ARL was up $1.00 today on a "massive" volume (for it) of 9,000 shares.
If you overlap the graphs for the two, you will see that the trades happened at about the same times throughout the day (looks to be generally within a half hour).
Also, why is IOT doing a 3 for 1 split? To drive the price down BELOW $10 a share?? What's the reason for that? (Possibly so that it cannot be margined?). Or is it to make it more "affordably" priced?? I didn't realize that $20 a share was considered "too rich" of a price for most people.
And, as you stated, ARL already owns most of it anyway.
It makes no rational sense...unless you understand the EVIL GENE-ius!
Trust me when I tell you that he's not doing anything for your benefit! And he never will.
You're right that Phillips is shady, but the buying in IOT, TCI and ARL in the past few months is not by him (check insider trades) I wrote to a bunch of hedge fund managers about these stocks a few months back, urging them to look at the unrealized value in all three. Two of them called me and others may have looked into this without calling me. This buying lately is encouraging.... good luck to all.........