Strange NICK Trades on Friday

Just a quick note on some bizarre trading activity for Nicholas Financial ($NICK) on Friday morning. Apparently, a few trades on very light volume went off over $16 per share. The high was $16.96.

There was no news on the stock, and I hope nobody got too excited. These were probably some bad trades that slipped through. Once trading volume returned, the stock went back to its previous territory in the low $15 range. The stock did 101,000 in volume on Friday.

My apologies for the excessive volatility — and this is yet another reason why I stay far away from day-trading. But make no mistake, NICK is a very good stock.

Posted by Eddy Elfenbein on June 30th, 2013 at 10:31 pm

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