J P Morgan have done this before - sold a million or so and then bought back in again. If it isn't manipulation, it has the same effect. It has made for some very cheap acquisition for many. At the beginning of the GFC J P Morgan sold off 10% of their holdings across the board. They may just be doing that again anticipating a drop in the whole market - to buy in again when conditions are more favourable. I wonder if the person who ordered the selling even examined the company at all and just made a strategic decision. It seems to me they could have placed their entire 1.7 million at a dollar or near a dollar and it does seem odd that they seem content to push the price lower and lower, thus devaluing the remainder of their holdings. It does make it much easier for a buyer to acquire the whole company at a lower price. As you say Hawkish a suitor could acquire a very significant holding for around $1.50 or so.
CRK Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held
