ago tipped for 2014, page-23

Do you really think daytraders have that kind of effect on this stock? Over $39 million?

A lot of that is just senseless churning i.e. the same share being bought and sold over and over again. Remember most of these instos do not have to pay brokerage per trade. They pay a flat fee. So they can sell some at 1.09, buy it back at 1.07. Sell it again at 1.085 and buy it back at 1.065. So on and so forth. The same stock could have been traded over a 100 times with no net change in ownership.

Generally, the stocks with a bigger free float tend to get targetted for this type of churning more than those with a smaller float. Look at the market cap of GRR and look at the volumes traded and compare with AGO. GRR is relatively illiquid because the parent and associate own more than 60% of available shares. AGO instead has a very big free float, partly because of Schroeders and the like who offloaded large chunks of shares in the past year.