So, it took churning day in and day out as well as 750,000 shorted shares to keep a lid on the share price in May. We can see from the current average daily volume just how much illegal churning there was when they were forcing down the share price - almost 650,000 shares of daily churning and fake volume.
Jad, Do you ever tire of inventing these theories of market manipulation? Can you not accept that the people who are selling shares think that the stock might go down? that the current price reflects a price point where buyer and seller are equally content that they're getting a fair price on the transaction?
It was reported on this board that IDIX, which received the buyout proposal from MRK over the weekend, had short interest of 20,000,000 shares. If that figure is accurate, aggregate losses on Monday for the shorts exceeded $330 million. Can you say, with a straight face, that IDIX's sp was manipulated down by the mm's and short sellers prior to the buyout offer so that MRK was able to buy them at a lower price?
When I bought my first shares of stock in 1971 there were fixed commission rates. $40 was the cost to buy 100 shares, $80 for 200, $120 for 300, etc. Now we traded 10,000 shares for $7. There were no dark pools or high frequency trading then, but there were mm's, $2 brokers and a host of other sharks on the floor of the exchanges looking to separate you from your money. IMHO, the markets operate now with far greater disclosure and give the little guy a much greater chance to make money than existed in the good ole days.