What a wild ride. 8,122,663 shares of Infinera exchanged hands today. And although you couldn’t tell it (by the way the morning was shaping up), some very determined buyers came out to play. Looking at the volume bars throughout the day, the largest lots by far lit up with green on the trade, meaning massive acquisitions were picked up on the up-tick. At the close alone, 278K shares were swooped up in one very last breath. The price range in that last minute of trading went from 14.80 and 14.84, only to settle neatly in the middle at 14.82. That’s around $4.1M in commitment.
I hope everyone stayed in through the turmoil today. As I mentioned in a previous post, institutional interest has picked up considerably, and I would speculate most of the high volume activity we saw today was short covering on the stock after realizing the institutions were coming in.