Twelve million shares sold out of Zixi in the last 10 days. On balance volume confirms this. Has he (cube face) been covering? no. Is he nuts? yes!
Soon this guy is going to be meeting his match. He spent say 40 to 100 million selling recently and there isn't much more selling to be done. All the average characters have been pushed out and the large illiquid longs and insiders are iron clad. Institutions are slightly more questionable but they probably recognize Cuban's selling for the bullshit event that it is and buy more shares. Data on this will be available on the 15th on the nasdaq site.
So what will happen? If Cuban continues to knock the price down on no volume (look at tonights close) then he will invite more institutional value players very soon. He will also invite the hedge fund guys to the party with their cube steak knives sharpened. I'm counting on this. If this guy thinks he can drop the price to $5 and cover at his leisure for the next 6 months, he is really crazy. I hope the hedge funds hengem high.
It will take a concerted sustained TASR like effort but it should happen. Mean time hopefully Zix corp is running at 100 mph to start exceeding expectations on every front.
The www.nasdaq.com site seems to update their data on the 15th of every month including short interest, institutional interest and a good many other things. I'm pretty certain that the monthly values are reasonable.
I don't know if you read my posts addressing the question; "Who is buying into the dump?" Anyway, I think that there was a considerable amount of institutional buying during the last several days. My guess is based on several things. 1. The ticker showed strength during times of low volume. At these times certain cube faced or market maker characters typically tend to walk the price down to increase their efficiency. During certain periods(over the last sveral days) this was attempted but not allowed in my opinion. The ticker showed periodic characteristics of last month when the usual scum bag dump maneuvres just weren't tollerated.
2.The sudden haults in downward price movement while volume increased indicated that someone was either covering or buying. My gut told me that cuban wasn't covering.
3. On balance volume seems to confirm the above statements. In conclusion, if it is established that institutions were buying into the dump very efficiently and somewhat inocuously then, well, that is great! Excuse my poor use of punctiotions, etc! It forces cuban to try to dump shares less effectively at a lower price. Eventually he is going to dump to a price where virtually an infinite amount of shares dumped will only result in a small price drop. Why? Because large illiquid longs, zixi insiders and institutions are all solid as a rock and they own something like 75% of the long shares. I guess at some point Cube head will not be able to get blood from a stone. It will get very difficult for him around $6.50 in my opinion.
Had a few drinks. Guess I'm running on. I think that hedge funds may become extremely interested in the $6 range. This is what I'm hoping for.