Re: Swartz did influence driving the price higher. OK
in response to
by
posted on
Dec 10, 2012 02:45AM
Fut... Yes, I stand corrected.. I meant shares & warrants controled by Swartz.. but yes, he did not hold half the float as common shares.. Regardless.. I would guess he dumped 10s of millions of shares during the run up.. but it wasn't enough to prevent it from getting to $2.20.. A controled dump as there were 100s of millions of shares churned during that frenzied run up... He then as we know dumped all the way down and sold heavily into the mini runup to the J3 settlement... All told, if memmory serves, Swartz controled & sold 150M (and it might have been as much as 170M) shares of PTSC stock.. which equates to nearly 1/2 of the OS... The point was that Swartz controled a large % of the float during the run up.. there is no such entity now.. My quick glance back at a handful of 10K/Qs showed the most common shares held by Swartz/Lincoln was 70M... that was still a large portion of the float.
the Swartz era began in earnest... and his iron fist control ended with the run-up to $2.20, with him holding nearly half the stock.. greatly reducing the float.. the spike was easy to manipulate for him to make his 100s of million$.
I should have stated 'controling' nearly half the stock (stock and warrants converted to stock and sold) during that time frame (up.. and down)... but not half the float.
Thanks for the corection.. they are always welcomed