StockFetcher Forums · General Discussion · Can someone explain this volume spike ?<< >>Post Follow-up
novacane32000
330 posts
msg #158875
Ignore novacane32000
3/24/2022 12:48:38 PM

Crawford A shares (CRD.A) normally trade about 30k shares/day. Thinly traded, to say the least.

So today they have a spike of 1.4 million shares traded at 11am. More shares "traded" in one hour than any single day in the last 8 years and the price barely moves??

Not sure what to make of this. Any thoughts ?



Cheese
1,374 posts
msg #158878
Ignore Cheese
3/24/2022 2:21:51 PM

https://www.stockfetcher.com/forums/General-Discussion/Can-someone-explain-this-volume-spike/158875
======================

@novacane32000

(DISCLAIMER: I have no direct knowledge and cannot verify any of these)

Some news tidbits:
* strong cash flow, favorable debt profile, and nearly fully funded pension liability
* new CEO, International Operations
* Crawford’s Board of Directors authorized the addition of 5.0 million shares of CRD-A and CRD-B to its 2021 Repurchase Authorization which had approximately 413,000 shares remaining at year end.
* For the full year, the Company repurchased approximately 531,000 shares of CRD-A and 1.7 million shares of CRD-B at an average cost per share of $9.63 and $8.26, respectively. The total cost of share repurchases during 2021 was $19.1 million.


novacane32000
330 posts
msg #158881
Ignore novacane32000
3/24/2022 3:57:10 PM

Thanks Cheese but still baffled.

I apparently know much less than the little I thought I knew about trading.

If you told me a thinly traded stock had a volume surge of >4000% in one day, I would bet a few paychecks that it moved well in excess of 20% in one direction or the other but it has barely moved.





Cheese
1,374 posts
msg #158882
Ignore Cheese
3/24/2022 8:18:50 PM

https://www.stockfetcher.com/forums/General-Discussion/Can-someone-explain-this-volume-spike/158875
======================

@novacane32000

(DISCLAIMER & WARNING:
UNSUBSTANTIATED, HEAR SAY, may be FAKE NEWS.
I KNOW NOTHING ABOUT ANY OF THIS.)


Apparently, "company repurchase" might be better described as "insider purchase",
and apparently executed by only one insider: Jesse C Crawford, a director owner,
to the tune of millions of dollars every month or every few months. It's one person
buying shares of a company that is very much lacklustre, so there is no
competition for buyback, therefore prices do not have to move much.

The largest shareholder is David Nierenberg, Founder of the D3 Family of Funds.
Mr Nierenberg is an experienced fund manager, who believes in activism.

Rumor is that the company may be targeted by a hedge fund or another insurance.

@novacane32000, what do you make of all this?


novacane32000
330 posts
msg #158885
Ignore novacane32000
3/25/2022 8:16:00 AM

This is one of my hurricane/disaster stocks.
I usually buy it when a hurricane is about to hit the US but it also does well when there are multiple natural disasters globally which there have not been many of lately and so you can see the chart is not very appealing.
I did know the company is repurchasing shares per the previous conf call and that it is currently undervalued and so I do have a small position. Can't tell you I know too much else concerning that specific insider buy.

I am not endorsing this stock as there may be much better buys out there. I happen to think this one has a shot at 10 soon.
I am transitioning more into an investor than a trader but I do know there are some good minds on this board and thought I could get the scoop on that crazy volume spike.

fotchstecker
296 posts
msg #158968
Ignore fotchstecker
4/11/2022 11:59:10 AM

It's not enough to look at the total volume itself. You need to know whether the volume was primarily at bid or offer (or roughly split between the two) to know whether supply was getting soaked or not.

miketranz
927 posts
msg #158969
Ignore miketranz
4/11/2022 5:01:08 PM

Don't know anything about the company but in general when there's a volume spike and the stocks not moving up dramatically,there's plenty of sellers on the ask side to absorb it.On the 8th another high volume day.Could be a sign the stock's going higher.Someone knows something that we don't know....

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