Hey @gothechooks,
Regal uses UBS as prime broker, as such Regal get their credit / trading / leverage / etc all through UBS.
UBS as prime broker without Regal's consent can go and sell any holding that they have previously executed for Regal. Eg. without Regal's overt permission (other than the Prime Broker agreement) UBS can go out and sell the PLS holding (short sell or otherwise).
Worst than that the Prime Broker does not need to give you back the same stock. For example they could say "Hey Regal, I know you love that PLS stock but these ORE.ASX shares we hold are equivalent we will give you them for the PLS shares we sold".
I am taking an educated guess that the reason Regal went over 5.00% was to push UBS off.
Hope that explains,
Super Ninja
Hey @gothechooks, Regal uses UBS as prime broker, as such Regal...
Add PLS (ASX) to my watchlist
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Last
$4.18 |
Change
0.120(2.96%) |
Mkt cap ! $12.58B | |||
| Open | High | Low | Value | Volume |
| $4.13 | $4.20 | $4.11 | $86.61M | 20.81M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1408666 | $4.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.19 | 165878 | 22 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$4.18 |
Change
0.120 ( 3.20 %) |
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| Open | High | Low | Volume | ||
| $4.12 | $4.20 | $4.12 | 4580071 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| PLS (ASX) Chart |