I saw there was big trade at end of day. Kingedx : you stated that "Seller wanted out and sold at a pretty big discount". How or where do you see if seller booked a loss or profit. Am i missing something? what if it was someone who bought your shares at .90 and was shorting. Then they booked a huge profit. I am just asking because if there is a way for me to see that that sale was a loss or profit it would be helpful info.
Anyone: Thanks in advance to any answers to this question.
To answer your question and Tiger's, think about the PPS of the trade. The buyer supposedly paid 0.49 per share which means they wanted a discount over current PPS to take on those shares. Seller was willing to let go of the shares at a discount.
If it was a short covering, the short-seller would be looking for shares to buy and would at least have paid market, if not more, to cover that many shares. The short would not be covering at 5-10% disounct below market.
Possible that this was some kind of end-of-month reallocation that had to reduce share count. Even so, they had to sell at a discount to move those shares.
I am very confident that whoever sold those shares, they booked quite a loss. The buyer unlikely has booked any gain or loss as they just obtained the shares. If the buyer was a short-seller that was covering, surely they made some serious profits on the trade. However, I do not believe it was a short that was covering as the PPS would have traded higher rather than lower for them to cover that many shares.