Good point but he bought them directly from the company and he already owns over 50% of Valence.
The daily average volume for VLNC right now is about 250,000 shares and during the past couple of months we have had days in the 100,000 range.
When I say someone I mean large institutional investors buying millions of shares a day every day.
It is a catch 22 because many of them will not buy until it is over $3.00 or in some cases over $5.00 per share but without their volume Valence will have a hard time getting back to these levels.
With the daily volume at 100,000 to 300,000 Valence is easy to manipulate and will go sideways.
While it appears there is a ton of smoke at Valence for those of us looking with a microscope ... there is no fire until the volume increases indicating others that can actually buy enough to move the stock are getting on board. Hopefully this will begin to happen this fall.