volume was from Russel re-balance. Many stocks had huge volume into closing.
a word of caution to people thinking this will double - don't waste your time. OCLR is broken beyond repair, Alain & Co have done a number on this. Also, it doesn't help that Telecom spending is still lackluster. Unfortunately, I don't think many customers would want to buy from OCLR anymore. They are in deep financial trouble - drawing down credit lines and issuing warrants at 8.5%. This is usually death knell. Do the math on interest being paid by OCLR. Its not sustainable - common stock is near worthless.
re: Also, it doesn't help that Telecom spending is still lackluster.
True, but that is a huge understatement. If it doesn't pick up before 2014, and that is what industry insiders believe, it will consume Oclaro's cash and next year takes another 15% cut in pricing. Their current troubles are the results of 10 qtrs of horrid telecom spending. And the coup de grace comes from Oclaro's very own top customers....they are now their prime competitors for 100G.
Really, can this scenario actually get any worse?
sean21448...why ask me? You 've been a bear here since mid-May (simply a qucik check and possibly been a OCLR bear for much longer). However, your question seems to omit the word trade.
I'll go into more detail...a trade consists of both a buyer and a seller. 4,055,304 block traded at $1.18