Not sure what to make of it.
I’ve been keeping a lazy eye on DXN as well. I don’t mind the look of the chart (retrace from second jump higher on Volume)
Main question is the possible motives behind Kenneth Baker’s recent trading in the Stock.
He jumped in and bought over $1 million dollars worth of stock June 1 and 2 which put him over 5% (Substantial S/H)
He then sold $126,000 worth on Monday to take him just under the 5%.
The Speculator in me says he would do that if he wants to trade in the Stock and not come under the view of future Substantial S/H announcements. (Or he just needed the cash for a new car)
So the $ million dollar question (literally
) is what is he going to do with the other 50 odd million shares he still owns?
I’m not sure what he paid for his shares but the recent cap raise was done at 1 cent per share??, so if he is in at that level there is plenty of profit at the current levels.
If he wants to unload stock, it won’t surprise to see a bit of price pumping to generate some buyers
All speculation on my part, but this is the Spec end of the market after all. Different rules often apply on the dark side
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