He did 129 wash trades on 68 days over roughly 10 months, representing about 5.4% of the volume during that period. “On the days that Mr Horn executed wash trades, on average they accounted for 39.4% of the total market volume in McKay shares.” As far as I can tell no one told him to do this, and it ended when Stifel noticed he was doing it and told him to stop. His motivation seems to have been … sort of charmingly innocent?
Cutouts is an open source application. Code licensed under the MIT license. Copyright 2018 Siddharth Kannan