How does one explain yesterday's remarkably strong APE volume at 46.3 million shares on a day which is historically a total yawn in light of the holiday? Normally, that kind of volume would produce a green close unless there was a negative news event. There is actually a very plausible explanation. Citigroup was releasing freshly minted APE units, and my guess is they released at least 20 million of them, or nearly half the daily volume. It is difficult for APE to rise when a steady supply of new shares is always prepared to enter the market. This is Econ 101--supply and demand curves.
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