The last two sessions of Teletouch Communications, Inc. (OTC:TLLE) were marked by a significantly higher trading volume than usual.
Yesterday, 366 thousand shares changed hands during the session, while on Monday the volume was 237 thousand shares. Compared with the daily average of 27 thousand shares, the volume generated in the last two days was several times higher than the 3-month daily average.
According to FINRA, yesterday 209 thousand shares were exchanged in short transactions which is 57% of the total volume. So, the increased short activity should also be noted.
As to the share price of TLLE, it went down 2.29% to $0.81 on the last session, which thwarted the effort of TLLE to score a new 52-week high.
The increased trading with TLLE stock can be attributed to the announced settlement of the AT&T dispute, as well as to the trade alert issued by Bull in Advantage. The promoter doesn’t specify whether he had received compensation for the alert, but he admits that “Bull in Advantage, LLC does on occasion sell shares in the open market without notice, and on occasion is compensated by a Third-Party.”
The coming session will show whether TLLE will continue the correction period, or buyers will continue to press up the share price and keep the heavy volume.
