--Late afternoon trading showed unusually heavy volume Friday on the Nasdaq around 2 p.m. Higher-than-normal volume can indicate increased activity by institutions such as mutual funds and insurance companies. Upward stock movement on such volume can show increased confidence among investors, while selling can signal further downward pressure on a stock.
Biopharmaceutical research company CytRx Corp. traded heavily despite a lack of any notable news. The company didn't issue any press releases and no analysts released research on the company.
But trading volume exceeded 10.5 million at 2 p.m., far higher than typical trading volume of 864,067 shares.
I think i'll go looking for some short share if any are still out there.
CYTR closed up 32 cents or 26% at close today.
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