On August 18th the time and sales information on the trading of BPTR had an interesting anomoly. There was one trade, which printed at about 10:30 EST, for 1,830,000 shares at $.84.
Without going back into history, I am willing to guess this is the largest single trade in the history of BPTR. The event brought some inquiries from members – we all want to know what this was all about.
I made some calls to fund managers who I know are involved in the stock and couldn’t find out any facts. However, I did hear a rumor. Like all rumors you have to take it a face value and assume it might be true or completely false.
I share this with you so long as you understand it might not be factual and might not represent any reason to purchase the stock.
I heard the following- the trade was the purchase of a block of shares remaining from a private placement BPTR did two years ago. At the time, the shares were priced at $.30, since the company was nearly bankrupt the funds allowed the turn around to take place.
The majority of the shares which were for sale from the private placement have already been absorbed by the market.
I have heard a rumor that the 1.83 million share trade was a sale of the last of the $.30 stock to a fund that wants a large position in the company, and intends to make more open market purchases.
This may be totally false, and in my view doesn’t represent a reason to run out and buy the stock. You should buy the stock if you like the company first. An expanded audience of institutional investors would be just what the doctor ordered in this situation. The large trade enhances the possibitity of that occurence.
For what it’s worth, the longer term chart of BPTR is quite interesting. This is a weekly chart going back to mid ’03.
On a longer term basis, it is interesting to note that the lows continue the pattern of getting higher. The highs got a little lower, but on a shallower slope.
The stock has made great runs in the Fall each of the last two years. This year, I believe the stock has to break above the old $1.20 high to have any chance of going on to higher highs.
This is the time of the year for this stock. It is 2 for 2 over the past 2 years. Perhaps it will be different this year. Time will tell. With potential massive new contracts in the pipeline, it could get interesting if it falls BPTR’s way.