So here is an example:
– Company: TransCode Therapeutics Inc.
– Stock: RNAZ
– Float: 1.58M
– Shares outstanding: 2.03M
– % Held by Insiders: 29.52 %
Yesterdays Volume was 95,516,663 so about 60 times the Float.
(All data from Yahoo Finance)
How is this possible and why is this possible?
Cheers and see you behind Wendys
In: 1
Some portion of the 1.58 million shares goes through many hands that day. Imagine a chain that gets a single link added to the end. Even after 100 links are added it’s still a single chain. Each chain is a share, and each link is a new trade for that share. Ultra high volumes mean the chains are very long. It takes very little time to trade stocks (adding a link to the chain) so it’s possible on very volatile days to have shares go from Alice to Bob to Charlie and David in fractions of a second.
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