Trades at IB (I also sold my APTD at Speedtrader right after the open on 8/2):
+ SLD 10,000 VHGI false Stock .185 USD SMART AUG 2 09:32:03 9.25 null
SLD 5,000 VHGI false Stock 0.1799 USD SMART AUG 2 09:38:13 4.50 null
SLD 5,000 VHGI false Stock 0.1805 USD SMART AUG 2 09:59:32 4.51 null
SLD 5,000 VHGI false Stock 0.1805 USD SMART AUG 2 09:59:59 4.51 null
BOT 5,000 VHGI false Stock 0.1701 USD SMART AUG 2 10:53:44 4.25 null
SLD 10,000 VHGI false Stock 0.1960 USD SMART 09:30:12 9.80 null
+ SLD 50,000 ADSY false Stock .032 USD SMART 09:31:48 7.88 null
SLD 300 VRML false Stock 12.00 USD SMART 09:32:22 1.50 null
+ BOT 300 VRML false Stock 12.893 USD SMART 09:34:03 1.50 null
+ BOT 50,000 ADSY false Stock .031 USD SMART 09:41:49 7.78 null
+ BOT 5,400 VHGI false Stock .171 USD SMART 10:11:52 4.62 null
BOT 20,000 EFGU false Stock 0.0610 USD SMART 11:14:53 6.10 null
+ BOT 7,000 VHGI false Stock .172 USD SMART 11:50:07 6.03 null
BOT 7,600 VHGI false Stock 0.1723 USD SMART 13:23:38 6.55 null
+ BOT 1,000 BDR false Stock 2.190 USD ISLAND 13:56:35 5.00 null
SLD 1,000 BDR false Stock 2.2200 USD BATS 13:56:59 5.00 null
+ BOT 5,000 VHGI false Stock .172 USD SMART 14:29:53 4.31 null
+ BOT 5,000 VHGI false Stock .172 USD SMART 14:41:34 4.31 null
Profit: ($244.53)
Disclosure: No positions in any stocks mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.
Do you have any comments on APTD? If there is >$1M of promotions going into this alongside with the announcement of its new platform, the recent volume definitely makes sense. But do you see the volume as primarily the selling of the promoters awarded shares into legitimate retail buying, or is this cross-buying between accounts and the shares haven’t been dumped yet? I have no position… actually I don’t even trade :-)… I’m just interested in how you interpret the past three days in APTD. Thanks!
Aaron – The dumping starts as soon as the pump starts. On Friday morning in the pre-market the pump buyers were bidding very high, even over one cent. A seller on ArcaEdge annihilated all the bids, dropped the offer to .0051, and then slowly upticked to about .0058 by 9:30am. The stock continued to slowly uptick after the market open. That kind of slow move upwards, despite huge buying, can only happen with huge sellers. And not just any sellers, sellers who want the stock to go up a little (so more people will buy). So the sellers were either the pumpers themselves or whomever paid for the pump.
Whenever the volume is very high, it is almost always retail buyers. Wash-sale trading is usually used to walk a stock up, prior to a pump.
Outstanding- thanks!