Normally one would expect the increased demand for shares to cause the pps to rise. We did have million share days recently and are seeing the average daily volume points increase the past month. However, the pps has languished.
How can that be? My guess is that a lot of the volume has to do with warrant conversion and buying against the short position from higher levels. The net result will be an accumulation of shares by our "investors" at these low levels in advance of bullish news emerging on multiple fronts. Once these positions are established, and in the face of good news, the demand should increase against a stingy supply, and off we go.
That's my take, what's yours?
