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>
> This is being driven by the day traders and at present. There were only
> 6,000,000 shares offered at the IPO, as of 3:30, 14,000,000 shares have traded
> hands. That means that the average share has traded hands 2 1/3 times today and
> 2.9 times yesterday. On this kind of trading volume, you are just asking
> someone to take your money.
You forgot daytraders.
Assume there are 1000 day traders who trade in blocks of 1000 shares.
They buy and sell a stock in ~5 minutes, so theoretically, these 1000
traders are responsible for a maximum of 72 trades of 1000 RH shares,
for a total of 72,000,000 "shares trading hands", just from daytrading.
Considering there are more than 1,000 daytraders out there, and more than
just daytraders buying/selling, and some round trip daytrades take less
5 minutes, you're left with a series of numbers that are not so much
"damn lies" as much as they're "statistics".
> THIS IS A PERSONAL OBSERVATION AND SHOULD BY NO MEANS CONSIDERED TO BE
> CONSIDERED PROFESSIONAL ADVISE.
Indeed.
Z.
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