It's 2:40 in the afternoon ET with about an hour and 20 minutes of trading left and MPH is at $1.45 with a whopping 405,200 shares traded. They're being traded in pretty hefty blocks, between 25,000 and 40,000 shares at a time.
What do we make of this?
SELL: Short sellers, institutionals giving up, program triggers under $1.50, shareholders who don't believe in the buyout.
BUY: Day traders looking for a quick bounce, speculators, maybe some car owners, people who think the buyout is going to happen at a favorable price.
The price hit an alltime low of $1.40 and has been as high as $1.49.
Any other ideas?
What do we make of this?
SELL: Short sellers, institutionals giving up, program triggers under $1.50, shareholders who don't believe in the buyout.
BUY: Day traders looking for a quick bounce, speculators, maybe some car owners, people who think the buyout is going to happen at a favorable price.
The price hit an alltime low of $1.40 and has been as high as $1.49.
Any other ideas?
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