Today I was able to sell 5,000 shares at $23.12 today, and then buy them back several minutes later at $23.05.
Seems strange that I could pull that off, considering that the stock is under strong accumulation (at least according to MACD and Investors Business Daily).
Bust is right. It would be kind of low life to use that money from the offering to then buy back stock to artificially inflate the stock. I'm so dumb to have thought anyone in the corporate would do such a thing.
Baloney. The risk window hasn't changed one bit since the company sold the stock, notwithstanding your beliefs. Folks don't buy $30 million in stock without knowing the future. The company doesn't need to buy back shares to boost the share price. That would be a not so smart thing to do because the company sold the stock in order to provide working capital to finance the up coming mercury control market for coal fired power plants. If anything, it needs to forward split the stock to increase the float.
The stock price will go up on its own without phony manipulation
I agree with MD here. I really don't see that happening.
On a somewhat different note, I'm still trying to understand why insiders haven't bought shares for their own accounts....especially back when we were in the single digits. Actually, there were so many different times they could have bought. Insider buying certainly begets investor confidence.
More strange is how you were able to pull that off with such low volume overall in the stock (you accounted for nearly 1/3)
Kind of a risky play trying to day trade that size position in a very thinly (and potential volatile) stock like this one.
Good luck though.