They sold 80000 shares of iiji at the open to control the price trajectory. Without these types of step function manipulations the stock would be a lot higher and could be above Nomura's price target. I guess the beat goes on!
same selling pattern continues; that 2710 projected selling price looks like a reality! i do not see the second quarter fiscal results exceeding expectations. the new capital will take time to produce the desired business expansion;the reaction to the decline in operating profits caused by the required expansion of working capital leaves no room for error. iiji share price is very volatile and management 's engineering style of reporting fisca l figures is very unexciting but apparently required to control this down side volatility.
your comment makes sense since the constant selling pattern of iiji is so repetitive as if it is programmed. an early gain is met with high volume selling which then tapers off and the stock regains positive momentum on normal or low volume. some times they commence a secon or third wave of selling that scares the hell out of most people and makes me very mad. i think that iiji float is small and therefore subject to easy manipulation. they have sold as much as 100,000 shares in less than a half hour to produce the down draft they require. the banks and insurance companies must be part of this pattern:i will observe the actionof the stock after the fiscal quater ends and expect normal buying patterns starting october 1st. which will allow them to accumulate new profits fore yearend. the banks took some big hits in the past and i think they sell their guts out to fill the holes with trading profits to save face. i expect this fiscal year to be a big sucess for iiji.