Hi all, Thoughts on Thursday's trading, thursday was interesting, not much news, yet a massive move in a few hours (a 9% move). someone with a lot of money stair stepped this stock up with a massive series of buys. paying the highest possible price until it got to 18.20, likely rescuing monthly options. total cost a few million give or take. then selling high for a tidy profit. later appeared a hedge fund or two piled on later in the afternoon. fighting a lot of head wind from all the options strike activity, and then they appeared to have sold. impressive action, and they probably made a bundle. this is violation of US law, Ramping is the slang--actions designed to artificially raise the market price of listed securities to make a quick profit. so what does that mean to us small fish. whether your short or long, this stock is very vulnerable to manipulation. because of low IPO float someone with a few million, can move this stock up or down, "ramping" or "bear raid". if you look at the chart lots of big buys and sells don't move the stock price, because they are trying to save money. not move the stock up or down. today there was one for 200k shares. if you made money on this action good on you. but its a bit artificial and for me infuriating. but it just makes May puts cheaper. speaking of May. IPO lockup over and earnings, we will find out the real deal then. if i'm wrong about GRPN fine, i was wrong and i'll take my losses. and today, seems alot of folks bought after these --i assume hedge funds, drove the price up. they may drive up the price again. or drive it down, wish i knew. from my perspective, they vacum up a stock fixing the price, then make a run, in conjuction with weekly opex. but the news last night and today was very negative, one positive story, but far more advising against buying GRPN in yahoo finance. yet the price went up, go figure.
i'm not a pro trader, but i'm not completely naieve. i know during opex theres a lot of stuff that goes on, but this was a glaring example of manipulation. if you also wish to file a complaint, here is the link: