Over 108K by 11am. Someone us trying to put a lid on $111 , however anything below $111 snapped fast.
Curious, is one of Sun' affiliates is trying to keep SP low or one of the big institution is closing/reducing position.
All that in addition to over 600K shares flipped hands during the last 6 days. Someone also buys big.
163K shares traded and price is so narrowly traded (110.75 - 111.46, 2:36pm and PS is currently down $0.12) – very suspicious!
Usually such a rise in volume is accompanied by a violent price swings. Not in Taro case. No news and yet volume is quadrupled; it is amazing that if one or more institutions are buying there is an immediate and available seller on the other side ready to keep the price from running away. The “coincident” is amazing – beyond any statistic and in the best tradition of Sun-Taro!
My guess “no news” and quadruple volume means there is going to be “news” in the not distanced future. May be S-T is piling up some stashes of shares that will be tendered in a future Dutch auction, may be S-T controlled stashes are accumulating in preparation of a buyback offer ( and tramping the rule of majority of minority). Who knows? , My experience with S-T makes me think only about sinister possibilities from S-T’s side!
speculation aside, you are right about pick up in volume. it has materially increased. If this continues like this for 2 months, i would say taro has reached what I call FAIR LIQUIDITY or VOLUME based on peers....based on my analysis of july 2013. Remember back then the average volume 20k...DAILY FAIR VOLUME based on peers and the available public float was around 100k.