CSG became part of the Russell indices as of the close on Friday. I would estimate that the huge volume was a "market-on-close" or limit 10 order, as it wouldn't have closed exactly at 10 unless that was the limit. What I notice is that the stock has one or more large sellers. Every day, it gaps down early in the day then recovers somewhat to close above its intraday low. Today, it dropped from 10 to 9.1, then closed at 9.50. Disappointing, but still part of the pattern. Graph the price for the last two weeks on a daily basis and see what I'm talking about . Looks like old money wants to exit and plenty of new money around to buy on any dips.
There wasn't a single transaction at the close. For a few minutes I watched the action on Friday after the close and it was displayed as multiple transactions in after-hours for maybe 25 minutes some at 10 some lower, and then at some point got compressed into a single spike at the close. I have no idea what was really going on but it's hard to believe there was 20 million shares waiting at 10.
I have noticed this pattern of going down early and then rising in the second half, it's hard to miss. Also the orders that bring the stock down early are relatively large and then it goes up on smaller volume. Large up volume orders do occur but they are relatively more rare.
I don't understand how this stock even has enough holders to supply such huge sell orders. It can't really be old money as this stock was distributed mostly to individuals by financial advisers. The whole trading pattern looks very puzzling to me. There is probably something simple behind it but I just don't know what it is.
I hve the same question as it was about $9.50 sometime after 3:00 pm or even close to 3:30 pm. As you point out, volume was very heavy. Maybe someone is gong to recommend it or include it in an index. We can only hope so