On the trading front, several brokers said they believed the higher spikes in the price yesterday morning were due to a shorting of the stock that had gone terribly wrong for one investor.
They believe someone on Mondayshorted 900,000 AMI shares and options , obviously believing the stock's rise would be short-lived.
The price ended at $2.93 on Monday but then closed on Tuesday at $5.25, opening yesterday at $7.15 - by which time the hapless speculator would have been in very deep water, having to get their hands on the stock for settlement today. He or she then would have needed to buy at whatever the price, ending up with a potential seven-figure haircut .
...could make some sense, can't beleive Xstrata takeover idea
AUM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
