I have seen many posts that have tried to put a damper on this current run by saying that the volume has not been significant and until it is this is all likely just manipulation. What would be significant volume?
Here are the current volume numbers (updated from a previous post of mine):
In the last 19 trading days (Nov 30 to present), volume has been 14,750,000 shares (Avg 776,315 daily shares) and the price went from .48 to currently .83.
In the 56 trading days before Nov 30, volume had been 12,414,000 shares (Avg 221,679 daily shares) and the price stayed in the .46-.50 range.
We have had 19 straight days or at least 114,000 shares volume. In June we had 11 straight days of under 100,000 share volume, 9 straight days in July and 8 in August.
Given that HF's likely hold many shares (Some say 75% or more) and many of us retailers won't sell until we see a lot higher prices, I would think there is not a very large float. With only 200 million outstanding shares, isn't it possible that the current volume run over the last 19 days is significant volume to mean something is going on and wanting to see millions of legitimately bought shares (Not transfer trades between HF) isn't likely given the float. (Until we see several $ when retail may start selling)
Yeah, the float is relatively small and I believe it's foolish to try to trade in/out of WMIH like we used to during the BK. If/when a transaction takes place the market will then reevaluate WMIH and the price will be set accordingly based on actual assets. Something is going on. A pump and dump lasts days or hours, not weeks. Hang tight.