How it effect serial buy pressure of PGLC by Honig Barry C.
Buy pressure creates significant demand of a stock and push its price up significantly. Impact of serial buy of a stock not only simply increase price but also carries some important meanings for this. Today the issue of buying pattern of Pershing Gold Corporation (PGLC) - the rising horse in the gold industry – has been comes as hot topic in the area of investors’ world. Honig Barry C, the owner of more than 10% holding of the company, has also been buying the share to some large scale recently. As PGLC has already passed its primary and middle stage mining steps of some of its field, it is expected that the company will start to produce its so long output i.e. revenue for the shareholders in the coming period. Buying PGLC by Honig Barry C is also a mechanism of cost reduction of existing holding besides picking stocks from the market. This is an indication of supply gap of stocks followed by further price hike in the near future. What will happen if other large investors start buying or Honig Barry C keeps its position in buy side?