Yesterday's volume of 69M for just over $5M is impressive. It bears comparison to the approx 45M shares and just over $10M traded on PRR.
That's 4% and 6% of each company's shares respectively. In one day.
Over a week the VWAP off CCC has hardly moved while trading at volumes higher than PRR.
PRR has seen it's price jump from around 12 to 21.5 in that time.
I know that comparisons such as these have little validity, but it sure stretches my mind wondering why there is so much churning going on in CCC with very small moves in the SP.
Is it possible that DTs are simply playing with fractions of a cent on large volume shifts?
I'm stumped. Can anyone else shed some light?
CCC Price at posting:
75.0¢ Sentiment: LT Buy Disclosure: Held
