Orion,
That's how many outside the top 20 but that is not how many are fluid on the market.
I think you will find (and I am guessing) that the top 50 would control about 85-90% of the shares. Probably close to 88% is a reasonable figure.
I would say that the majority of the top 50 shareholders would not be traders. It is possible that one or two of them slide in and out of the top 50 but I find it unlikely that there are too many of them. I am fairly certain that the top 50 are pretty much holding on tight.
That means that about 26-27 million shares are a little bit more freely traded but I am willing to bet London to a brick that at least half of those shares are not going anywhere in the next few weeks.
I think you will find that 'fluid' shares are probably no more than 10 million shares AND I can see that tightening day after day if anyone is silly enough to put their shares up for sale.
Everyone has their figure but I reckon you will find reticent sellers here at $4-$5 but you may get more enthusiastic sellers as you approach $5.50, we will see.
There's quite a few silent lurkers out there tonight seething with bubbling anger, resentment and JEALOUSY that this baby defied gravity yet again.
It proved them to be NOT worth listening to ... ever :)
As Nelson says on the Simpsons " Ha! Ha!"
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