3.7m shares traded in PDL whereas only 700k trade in PPT, PDL down 9.5% while PPT up 6.5%, WTF! Is it possible all those funds that have lent out PPT stock to the arb hedge funds so they short sell PPT/ buy PDL have called back their stock due to the potential takeover of PPT forcing the unwind of hedge funds arb trade? seems logical but doesn't explain the volume difference. So it seems some idiots must think the merger between PDL & PPT is off. I'm tempted to buy more PDL but am wary about lifting my equity exposure when markets overall are looking very dicey.
3.7m shares traded in PDL whereas only 700k trade in PPT, PDL...
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