Yeah. It might not be the case, but it's such a common bullish accumulation scenario - dude caps it at 6.8c with his 3M sell order. Stalls the buying strength. Changes the psychology.
Meanwhile, he loads the buy side with smaller (split) orders which often get hit, and slowly snipers the sell orders that appear, without creating obvious buying strength. Fear and uncertainty has emerged, especially for the nervous retail.
So dude ends up sucking up almost everything for sale underneath. Today's range 6.4-6.7c.
Dude gets another ??M shares and either: 1. makes a sneaky ???K on the side without reducing his holding (if 6.8c stays and gets chewed) 2. pulls it and has another, for example, 3M shares for cheap az.
It's risky, but effective.
* not my 3M.
BLG Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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