hmm...maybe, but the numbers seem off because there wasn't nearly 9 million shares traded at the low.
ok two reasons 1. no news whatsoever on any channel 2. i saw 2 million offered at 42 on BTRADE. this seems very unusually, like some fund was just puking up. it was slowly getting picked away In response to your other question, IB allowed ARCA trading ONLy at like 11:54, about a minute before the actual open. i called them up and chewed them out about 10 minutes before that but the guy only promised me he would look into it. You could have gotten some shares at 45-48 when arca first opened.
From what I was told, they were filled on almost 2 million before they were able to pull the rest. Like I said, not sure if it's true...but that is the rumor that made it to my floor.
"SUMO/ISLD/INCA trades being broken by NASDAQ between 10:46 - 11:55AM EST." "ARCA and BTRD status unknown." - - - AUS Net