Someone dumped Old Line Bancshares (NASDAQ:OLBK) on June 27.
The stock of this $1.2 billion-asset Maryland regional bank dropped a dramatic 7% from open to close as an astounding 1 million shares changed hands - extraordinary considering the bank has only a 6 million share float and its daily volume averages 40-60 thousand shares. Even more worrisome, Old Line moved lower while the regional bank index (NYSEARCA:KRE) actually advanced higher. As charted below, the June 27 volume absolutely stands out.
The massive selling has to give any would-be OLBK investor pause. After all, do the sellers know something the rest of us don't? And then again, could this simply be an opportunity to enter at more...
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