Not only that but my order was in between the most recent two you posted but at a higher price, so mine should definitely have been filled at least for the 1043 shares you noted. My buy order went unfilled and whoever sold got a couple cents less than they should have received. Plus, the closing price was reported as lower by almost two percent.
I'd like whoever gave my factual post a "thumbs down" to explain why those things happened without the result being fraudulent. Thanks.
From my order: "Entered:16:00:41 07/01/16"
The specialist or market maker did as expected -- dropped the price a cent just before the close. Often, they drop it right after the close, too, based on a small after-hours trade.
Here's something interesting -- after they dropped the price to $1.23, and after the close, Level 2 was showing a bid of $1.23 and ask of $1.25. So, I entered an after-the close order, designated as an after-hours trade, to buy at $1.25. The system was showing plenty of shares available at $1.25 on the ask, so my order should have been filled, in whole or in part. No fill. About ten minutes later, the bid was reduced to $1.21 and the ask was increased to $1.27. Still no fill. At that point, since my buy order was below the ask price, I decided to cancel it. I made my point. They refused to fill it even at the ask, within the time that the closing price would have been adjusted to $1.25. It remains at $1.23. That is pure manipulation.
When they drop price on a small, after-close order, which adjusts the closing price downward, they would rationalize that it was a legitimate trade, after hours. So, was my order; but, it was refused and went unfilled. Instead of filling, they raised the ask price so that my order did not have to be filled, technically. But, it should have been filled prior to then at $1.25. What's good for the goose...
Someone in the control side of the market for the shares of SOL is controlling the closing price, in my opinion, based on this direct experience.
Good luck, longs.
It looks like the traders want to close the stock lower...and, they will have their chance after the market close. It will be interesting to see what they do in the after hours session.
Good luck, longs.
It looked stinky to me, also, but I was tired of posting about the same old thing. They often slam it down in the last few seconds. I am particularly annoyed by taking it down in the after-hours, a minute or so after the normal trading session, on a tiny trade (compared to the daily volume). Those who do this are fraudsters.
Be ready for case dismissals because the wind has been taken out of the sails of the parasitic attorneys who don't give too loads of #$%$ for clients or anyone's health. They want their cut and when they see their cut is unlikely to happen, even though they have to invest a lot of time and effort, they will withdraw or back away quietly. These cases are toast since the government has admitted they have nothing on LL.
The world is full of people who will tell me what I do is wrong in some way but hardly any of them will offer a better solution and virtually none will take the risk of implementing those solutions -- because they don't want to be on the firing line. They make their money and get their jollies just hollering about negatives. Everyone that does anything knows their are negatives. That's the way the world is. We try to overcome those negatives but some are not possible. For example, if I sell water, I want it to be pure for your safety so you will enjoy it and buy from me again, but I can't stop you from over-consuming and I can't stop your relatives from complaining to me about the water I sold you because you drowned yourself.
There are realities of nature. If you cut anything with a saw you produce tiny airborne particles. If you breath them into your lungs, they harm you. So, when your house is built, the builders will suffer harm and so might you if there is dust remaining. But, you suffer more harm not having the house and freezing to death. Every risk and every reward is relative to other risks and rewards. It's called life.
And LL does a lot of business with do-it-yourselfers who can read. They see the news that the government was shown to be wrong. They are independent-minded people that take care of themselves by doing their own home repairs and upgrades. They will buy from LL because they will want to support the company and because they get the goods they want, when they want them, at a low price. The bounce back can be swift and stunning. We shall see.
Again, today, big down market, the price of SOL dropped to $1.12 but closed even at $1.19. Buying of any stock, today, is driven by bargain hunting, a quick trade, or a short cover.
Since SOL is priced near where it's been, I don't think bargain hunting is the main motivator -- especially when there are a lot of other stocks available at bargain prices, also, especially in the near term. If one is interested in being long, I don't see the reason to buy today over any other day the last few weeks. Today, a long investor would be drawn elsewhere.
I doubt that a lot of people would be drawn to SOL for trading. Some perhaps but, again, the opportunities are so great with other stocks that have more liquidity and bigger price swings -- a trader would be there, instead.
That leaves short covering. SOL's trading volume, today, was over 500K, which is quite high, though not unusual for many equities, today. The difference is that most other equities are down on high volumes along with the market. The fact that SOL closes even points me to short covering -- naked or reported. But, why cover today? Lots of reasons. One is they may be thinking it has been time to cover and this market dump gives some the volume to get out. Another good reason is a desire to use resources elsewhere. Due to the market slump, there are plenty of other long and short term investment opportunities. There are also plenty of short candidates if one believes all the negative news. But, to execute those, the investor needs to use capital. Capital that is tied up in a low probably short like SOL needs to be redeployed and the sooner the better, so shorts get covered.
That's my thinking. Probably all wrong.
Good luck, longs.
P.S. What's that I see??? Is a market maker going to adjust the close up by a cent after hours? Wow, usually they go the other way. This is another sign that shorts are getting out and maybe capitulation is happening and soon the stock price will go the other way.
Agreed. About nine times average volume but only down about 3.5% on a day when the market took a big dive. To me, this indicates buying interest, either as a long or as a short cover.
Good luck, longs.
The stock closed the regular session at $1.25 with over 339,000 shares having traded. About five minutes after the close, the specialist or a market maker put through about 200 shares at the bid, which was $1.24, and now the closing price has been adjusted to $1.24.
That may seem like a tiny amount -- only a penny -- but it's almost 1% of the market value, which is quite significant. And, the volume involved to make this adjustment was less than 1% of 1% of the volume traded for the day; which makes the adjustment quite ridiculous (subject to ridicule, which is most certain).
Also, I wonder if they have EVER adjusted upward the closing price with such a small volume trade after the close?
I realize that if the company kicks butt, the stock price ought to rise and this affect will go away. However, if an employee noticed that the last hour of her weekly pay was deducted from her check every week, she'd be a little annoyed, too. Not the end of the world, but it surely looks orchestrated and it is annoying.
The company ought to seriously court a few strong OTC market makers that would trade against the NYSE specialist.
Good luck, longs.
You are correct that it is obviously BS to have 50,000 or more on the bid at 1.23 but only 100 on the ask, see trading on the ask and have the price not move. The volumes posted by market makers have to be bogus.
The big question is, "Why?"
If you are right, and someone or a group is trying to keep the price down, then what is the benefit to them? One would think that such manipulative effort would eventually go the other way -- once the group has accumulated what they want, they would move the stock price up unrealistically high and unload.
I just do not see the benefit to a manipulator of always holding back. At some point, this should take off. It feels like we have been expecting that for far too long for this to be rational.
Your observations have merit. But why does it continue to happen with no change in direction?
Since those large bids didn't seem to get filled often enough, one would think there would be pent-up buying interest. However, trading is weak, in general, but really stands out on a day like today where many stocks are up significantly.
Also, SOL should be up on the overall positive news that TSLA is buying SCTY. Maybe not great news for TSLA, but certainly an endorsement for solar. However, trading doesn't seem to indicate any new interest.
This stock is strange. The company is performing better than it has when the stock price was higher, the progress has been steadily robust, they have a bright future, are in a couple of hot spaces, but the stock price seems to be stuck in a flat, very low range.
Those occasional bursts of indicated volume on the bid side are strange. It's too weird that buyers would just change their minds and walk away if their bids don't fill. If a buyer really wants to own something, they will hit the ask price, not just post a high volume on the bid side.
I'm not big into conspiracy theories because they are always known by someone who would act/trade against them. However, it is odd. Maybe it's just market makers trying to unload volume, playing a version of "Rope-A-Dope" -- trying to draw buyers.
Buy why would market makers want to unload shares at this point? Usually, they like to buy low and sell high. This stock seems perfectly poised to be run up by them prior to unloading, which is what traders are good at. For example, they could easily have bumped the price fifteen cents on the TSLA news, and sold higher if that was what they are after. Why are they not exercising their craft, here?
I agree with your overall assessment. As far as the cotton balls, that was prior because pills were more fragile and the cotton was packing that protected them from banging around in the bottle. Also, a company could sell a bottle with thirty small pills even though the container would look like it could hold two hundred. The cotton kept the pills from rattling around inside and disclosing the emptiness.
What happened after the Tylenol poisonings was the adaptation of bottle and container seals. Seals began to be applied either under or over and around the cap, and sometimes both just to show no tampering. And more product packages were glued shut and/or wrapped in cellophane that was challenging to remove in such a way that it could be reapplied without being obvious. Many labels still have the note that if the bottle looks as though it has been tampered with or opened, to return it to the store. All that started due to the Tylenol poisonings.
Are you old enough to remember the Tylenol tampering? I thought it was going to take the company down...or at least the brand. But, it not only survived, but prospered even more. It's possible that more people shop at LL due to the negative "news" stories that apparently are now significantly discounted. It might take a couple of years, but this could return stronger than ever. No one knows the future, especially me.
Good luck, longs.
You present an interesting case and I'm guessing those are the reasons for the stock grants. There is no doubt there are some positives. My point was that there are also negatives or costs; and the benefits you note need to be weighed against those costs. I never doubted that some people would like having a share of stock.
I also note you called motivation a fickle thing, with which I can agree, especially in this case. Unfortunately, a stock issuance isn't a fickle one-time expense. It creates an expense every year -- long after the fickle motivation has worn off.
T-Mobile customers are customers due to cheap cell phone service. Giving them shares may be a motivator to some, but it would be illogical to argue that it will be a motivator to all.
If your favorite lunchtime spot gives you a free spatula, it's more than another place gives you, but you might have rather had a slice of pie. You come for the food, not a spatula. T-Mobile customers come for cheap phone service, not other freebies.
When the $40 share is sold, less ten dollars commission and less twenty dollars extra charge by an income tax filing service like H&R Block for the extra form or report for the sale, it won't look like much of a gift. Some might prefer a spatula because they can toss that in a drawer and never think about it again.
It's reasonable to consider that not everyone will be similarly motivated by this gift. Then the questions will be, how many will be motivated as expected, and what is the cost versus the return from that number of motivated customers. The answers are not obvious, which is why it is interesting and worthy of discussion and consideration.
Gift tax is paid by the giver. But, they said these shares would be issued in a tax free manner -- I think it was that they would make some kind of adjustment on the service invoice. Not sure how.