I think you will find that a substantial shareholder is someone who owns 5% of issued cap - hence 5.75m for blt.
The t'o for May has been an av of around 600k per day with 2 exceptions, 19th and 20th when the price ranged from 116 to 142 and t'o was a mil and 1.6!
All of which - to me - suggests that the bot can drive down a price with lots of churn (both buying and selling) whilst slowly acquiring, but only when there is little buying demand.
Westhx I fully agree no one with any significant holding is selling. And when the market thinks this is the share for them, then no amount of bot activity will be able to stop it - as evidenced by the larger volumes and rising price of 19th and 20th! And even those volumes weren't all that big.
So if us retail folk ignore the bots and traders and hold onto our shares things will eventually turn - of course providing news is good.
BLT Price at posting:
$1.20 Sentiment: Hold Disclosure: Held
