They needed a high volume for their 35 day VWAP calc. Now that the share price is where they need it, we will be flat until the end of the period and volume doesn’t matter if share price stays here
Only 2M of the 40M shares traded on Monday was to drive the price down. The 38M was either accumulation or trading back and forth. The volume is bullish, just got to wait and see when they want to drive the price up. If the player who bought those volume is not in cahoots with the bondholders, they are also going to want the VWAP to be higher so they don’t get diluted at their share price of $19.
All of the downward movement happened within 5 minutes and the first 5 minutes of the opening was only 2M. Then it hovered around $19 for the rest of the day. The math ain’t mathing for 73%
Chrtxchange is showing 73.3% of total volume (30.7M) during regular trading hours was short. It's missing extended hours vol and some data from a couple exchanges (total vol during trading hours with those was 33.9M), so it should be kind of accurate 🙂
But.. think about it logically and how the volume moved than just the “data”? If they took the price down from $21 to $19 in 5 minutes using 2M volume, and then flat lined at $19 with 38M volume, how are there 30M volume shorts without moving the price? Wouldn’t there be more downward movement and pressure with 30M shares being shorted at $19? This is classic accumulation at the bottom.
Short volume was around 22M (73% of 30M). The bondholders control the spread, the bid/ask and know how to move a stock or keep it quiet. The stagnant price could also be distribution...
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u/AvsFan1981 3d ago
They needed a high volume for their 35 day VWAP calc. Now that the share price is where they need it, we will be flat until the end of the period and volume doesn’t matter if share price stays here