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Message: Significant trading activity - PLS and PLS.WT

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wolf411

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Significant trading activity - PLS and PLS.WT

posted on Feb 09, 09 06:33AM

PLS closed at $1.46 on Friday.

The PLS float is about 53 million shares. Average volume is 130,000. This morning 6.5 million shares were crossed by GMP Securities at $1.50. Afterwards the price briefly went to $1.73 and has since settled down at about $1.60.

Also, the warrants (PLS.WT) show a volume this morning of about 3.25 million, which must have traded in the $0.20 to 0.22 range. Quite a bargain, IMHO. (They are good for 23 months at $2.25.)

The warrants came as half warrants with the recent new issue. So I suspect this was somebody dumping 6.5 million of those new shares and the corresponding warrants. Just for reference, the recent new issue was about 15 million shares and 7.5 million warrants.

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