Mitsubishi/ Morgan’s have been hovering just above the 5% reporting threshold and a sale of 100000 shares at $0.26 on Monday 9/6 (their first trade since mid June) was enough to push them under the threshold.
They “became aware” two days later so maybe not intentional, but being under the threshold now does allow them to sell freely without alerting the market.
Since Monday’s trade (9/7) and disclosure on Wednesday the stock traded higher all week until coming off on Friday (13/7)
Volume on Friday was relatively high and similar (though slightly more) than the previous four days combined.
Mitsubishi/Morgan’s often buy and sell and may very well lodge a substantial holder notice next week following Friday’s trades.
Could it be that they are simply acting as a “market maker” to provide some liquidity to the stock?
BRB Price at posting:
24.5¢ Sentiment: None Disclosure: Held
