Q: Hi, On Nov 26, FOM was up over 12% at one point in the day on volume of over 6 million shares which is over double the average volume. Someone knows or thinks they know something. Any ideas on what is going on here. I didn't see any news that would trigger this. Thanks.
5i Research Answer:
That day there were lots of blocks of 100,000 shares to 1 million shares, and six blocks traded at 1 million shares each. The stock rose 7.2% for the day. But, even at 22 million shares the amount is not enough to require disclosure, even if there was only one buyer. We would be careful not to 'assume' anything here. It could be something, or not, and there is no way of knowing. To us, it looked like accumulation of a stock that has somewhat lagged, and not much more. There are 14 holders of more than a million shares. There was no reported insider activity on the day in question.