Bank stock over $3.30

What’s going on? Check out the yahoo finance site. Price has been up to $3.40 something. Average volume over the last 3 months was around 5300 shares per day. Today, as o f 1:00 p.m.  168,427 shares traded.

Addendum: as of 5:55 p.m. the stock value appears to have closed at $2.94 at a volume of 284,786 shares, according to Yahoo finance.

10 comments on “Bank stock over $3.30

  1. March 31st is end of the quarter. Other banks are going up as well – basically just speculation that this is a turn-around quarter, so if PNBC isn’t posting a loss, then maybe they’re back on track to profitability. Possibly permanent.

    I was thinking pump/dump also, but now volume is at 647k – it’s too early for ‘insider trading’ because the accountants are probably not even done the 10k yet.

    Possibly also a “short squeeze” situation where the original increase caused short sellers to force covering their position. Then the increase will be temporary (and highest between 2pm and 3pm today).

    • Last time I looked the stock only had 55,000 short. That would have been taken out in no time. Hopefully we can stop speculating tonight.

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