GSCO actions on OTCBB

[learn2play]

hey,


I'm in a oil stock (qoil) which had some bad news (legal actions, hardly affecting normal activities) on wednesday morning followed by a drop of -10%. The second day after the bad news, there was another -10% drop followed by a +15% run (GSCO on the bid). Still no news. The third day, GSCO was accumulating 500k shares on the opening (no news) and 3 hours later a new PR was released concerning the legal actions, stock closed with another -10%. So GSCO lost 10% on their 500k shares.

My question, why is GSCO accumulating shares of a penny stock when the company just released bad news ? My first thought was they went short, but I doubt that. Why did they take such a high loss? Because they knew they could only fill their order at the opening when people start dumping?

Other opinions?

TIA

 

[Trader333]

Why did they take such a high loss?

There are any number of possibilities here but the liklihood that GSCO made a loss on all of this activity is extremely low.


Paul

 

[davestrachan62]

qoil quest oil

last year i was robbed of £125000 by sun international mergers in memphis re a takeover of quest oil, were you a shareholder too? regards david

hey,


I'm in a oil stock (qoil) which had some bad news (legal actions, hardly affecting normal activities) on wednesday morning followed by a drop of -10%. The second day after the bad news, there was another -10% drop followed by a +15% run (GSCO on the bid). Still no news. The third day, GSCO was accumulating 500k shares on the opening (no news) and 3 hours later a new PR was released concerning the legal actions, stock closed with another -10%. So GSCO lost 10% on their 500k shares.

My question, why is GSCO accumulating shares of a penny stock when the company just released bad news ? My first thought was they went short, but I doubt that. Why did they take such a high loss? Because they knew they could only fill their order at the opening when people start dumping?

Other opinions?

TIA