Looks like around 2M shares in the last 2 minutes, and some big blocks are crossing a/h. My best guess is this is due to options settlement - I think this is a "triple witch" day.
fed, I agree that the moving averages are possible resistance points, and it's important that we decisively broke through the downtrend we've been seeing in the 50-day MA. I think that may have pulled in some of the computer-driven models that key on that breakout.
My comment was mostly based on a look at the one-year chart for MLNK. If you draw a horizontal line at $3.60, you'll see several occasions this year where that area acted as either support or resistance. From the very meager amount of information we get, we do know that management is taking certain actions such as the forward/reverse split, we still have the NOL tax credit, we're in a period where MLNK has typically shown seasonal strength, and the trading volume and price are picking up. With MLNK, it's rather like trying to read tea leaves, and many consider technical indicators such as moving averages & resistance points as akin to that. My gut feeling is that we're heading up, but my gut has proven wrong here before. Let's hope that we see a lot of resistance points fall as the share price moves up.
GLTA mlnk longs. As I was writing this, the pps popped up to $3.63.
fedele, your point on the end of year share price increase is well taken. If you think about the people who bought MLNK earlier this year when the stock was above $5, we undoubtedly had a bit of tax-loss selling in the last several weeks, which put pressure on the share price.
OFP, Razor, Nirvy, Falcon, Ray, Wink, Sarge, Rooster, #$%$, Ondurata, Koufax, and all I missed,
what a long strange road it's been.......................................
tom6c, amen to that! Grateful Dead is one of my favorite groups for obvious reasons.
Not sure what exactly is going on here. I did see an SEC filing very late last night showing that HNH had acquired another 1,404 MLNK shares Dec. 15 - not exactly a large amount compared to the 6M shares that HNH & Steel Partners already have.
I did see that the reverse/forward split was okayed by the majority of shareholders, so I'm guessing that will happen at some point. We know that management will play this close to the vest and us small shareholders will be the last to know what's going on if anything. Hopefully something to mitigate the suffering of long-time holders here.
Got a fill at 70 cents while I was at breakfast, so yes, I should have waited, but this is by no means anywhere near a big holding for me.
It looks like I have you on ignore, so probably sometime in the past I decided you weren't a very informative poster. Look up "schadenfreude" and tell me if that applies to your apparent glee here this morning.
From AVNR's SC14D9 filed on Friday:
In parallel to exploring potential licensing and co-promote agreements, the Company [AVNR] regularly explored potential acquisitions as a means to enhance stockholder value. Party A, a public biotechnology company (“Party A”), was among the companies with whom the Company had discussions. In May 2013, the Company entered into a confidentiality agreement with Party A with respect to a possible acquisition of Party A and began exchanging certain non-public information with Party A.
On February 19, 2014 the Company submitted an indication of interest to Party A to acquire certain assets of Party A for cash. That offer was rejected by Party A as insufficient, but the Company and Party A agreed to continue to engage in discussions.
Throughout the Spring and Summer of 2014, the Company maintained contact with Parent, other potential strategic partners and acquirors and Party A, and continued to consider potential strategic transactions.
My guess is that AVNR was interested in acquiring the rights to dDM or taking over CNCE.
From Friday's filing by Otsuka:
Have any Avanir stockholders agreed with Parent or Purchaser to tender their Shares?
No. We have not entered into any agreements with Avanir stockholders under which those stockholders have agreed to tender Shares in the Offer.