I was expecting volumes at $4.85 to dry up for Cooke, but from their change in holdings, it seems they were ramping up! My guess is they wouldn't be driving the price up to $5 unless that volume had dried up. So could be another player coming in trying to arb the trade.. willing to pay $4.85-$5 with the expectation of another bid from Cooke down the line. Volume is definitely not enough for it to be Cooke driving it (<1m shares traded so far).
Anyway, just goes to my point: if you had held this long, why would you be selling out at $4.85 knowing that is the floor? Surprised they are still getting so much volume at that price to be frank.
TGR Price at posting:
$5.01 Sentiment: Buy Disclosure: Held
