I need your imagination to paint the big picture, here are the facts and questions:
1. citigroup just bought under 1% according to broker's report. If MQ is selling down and smart, citi wouldn't be that stupid either
2. my obeservation over the last two days and today is that there is one party are trying to keep the price up even by using bot trading at 1088 or 1089. There is a capper at 1mil orders on the sell side but the same happens at the buy side as well. Why someone want to sell down and another party trying to do the opposite? This makes the selling is not as simple as they see CNP as high risk.
3. IMHO the buyers are not retail investors. Look at the total volume, volume per transaction especially yesterday morning as I pointed out in the other post, and especially how chicken the retail investors are, the buyers are institutions.
4. The buyer could well be MQ itself if their only goal is to keep the price down below say 0.25c. Too much selling will be drag down the price sharply to 10c and this could cost them too much if at a later stage they still want to keep them. Because if the only purpose is to escape from CNP then well the price went up to mid 30s they could get more money. But the way they do it is just pushing down the price regardless of cost.
5. MQ is believed to be one of the bidders, what would benefit them by doing so? this is the million dollor question which I don't know.
CNP Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
