Theory of why the down ticker does it

Hi All,

Long time holder, but rarely post.

I’ve been trying to figure out why someone each day trades a minimal amount - selling to the bid.

My theory: when a company announces a take over they will say it in terms of “this represents a 100% premium on the 90 day VWAP”

Now if you take this to the extreme, if the stock hasn’t traded at all for 90 days, then it is a hollow measure.

If, however, it does trade every day then the takeover claim will be truthful. And by using small amounts at low prices the takeover announcement will look very generous, and it will have barely cost them a few thousand dollars.