Very Curious Trading In NII Capital

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 |  About: NII Holdings, Inc. (NIHD)
by: John Lott

There has been some very curious trading in the equity and senior unsecured notes of NII Capital (NIHD) (CUSIP: 67021BAC3) on what appears to be no news.

Recent Bonds Trades

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There are a number of things that I find interesting about the trading in the screen shot above:

  1. The quantity trading at the high of 95
  2. The recent high price of 95
  3. The fact that all of the trades were dealer to dealer

First, there has been very little trading in this bond over the last five days and the high price was $93.75. In the first hour and half of April 3rd, trading is above average and a new recent high price of $95 has been established with three additional trades at or above $94.

The other thing that is curious is that they have all been "dealer to dealer" trades which suggests that this is NOT retail trading.

The Equity Trading is Even More Interesting?

The stock is up more than 20% this morning with no news anywhere. No press release, no articles on SA, briefing.com, nothing. Look at the chart below.

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The trading in both the debt and equity of NIHD is extremely curious, especially in light of the fact that there is no news as of the writing of this article.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.