The stock has a history of repeated sales of 10000 shares and also the 989 sales of yesterday. These are automated purchases from an overseas buyer. The purpose, I believe, is to ensure that you buy at the average price of the day, rather than forcing the price temporarily up as you buy (say) a million shares, only to have it drop again as soon as you have completed your purchase.
Today and Monday 24th had large quantities of 10000 share purchases. There have also been several other days where it happened. The buyer turns on the automated process, and (in the case of the 10000 share purchases) it buys 10000 shares every 15 seconds until either the price goes too high or the required number of shares is reached.
The fact that it has happened many times over the last few weeks suggests that there is some very serious accumulation of the stock occurring. And rightly so, too, as the company has huge potential. You only had to be at the last company meeting to hear the presentation from the new CEO to see that things are really starting to happen for MCL.
DYOR.
MCL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
