The OEM saw almost a million shares traded last week in one day, with no explanation.
Putnam Standard reported on the “unusually-strong” trading volume in Canon shares on Thursday 10 December, commenting that the “large volume increase” was an increase of 220 percent over the OEM’s previous day’s trading volume. Additionally, around 900,838 shares had been traded during the day, compared to the day before’s figure of 281,591 shares.
The OEM’s stock price rose as well, from $29.80 (€27.20) to $30.15 (€27.52), and no reason was given for the spike in interest in Canon shares. Canon’s most recent quarterly results saw net sales increase 6.1 percent from ¥872.2 billion ($7.2 billion/€6.5 billion) in 3Q2014 to ¥925.7 billion ($7.6 billion/€6.9 billion) for 3Q2015. The OEM attributed the figures to MFP and laser printer sales “increase[ing] gradually thanks to strong demand for colour models in developed countries”, while monochrome demand fell, owing to economic slowdown in China and southeast Asia.