Today's movement in STO's share price is fishy!
The share price started low, then peaked at 4% above (at high volumes), the gradually traded lower towards the end of the end at low volumes. Remember ASX200/All Ordinaries were smashed the who day.
I honestly think that there is a Chinese Conspiracy!!!
ENN now has a ~11% stake in STO; and HONY has as 0% (but they will soon have a stake in ENN).
Since ENN is already a substantial share holder, the can potentially increase their holdings to 19.99 % without declaring a takeover.
HONY can potential buy back into STO slowly and build up a new stake quietly, until they are required to announce they are becoming a substantial shareholder, again.
Why the hell would investment firm go long (by buying shares through a recapitalization plan?) and then decided to sell after 3 months? Even a failed VCE economics student knows that 99% shares (regardless of their quality) drop after the recapitalization is completed!!!
All the makings of a hostile takeover to me!!!
They probably won't do colluding straight away, since it will be viewed as being illegit.
If you seen HONY or their subsidiaries become a substantial shareholder, again. Then this is a sure sign of their conspiracy.
However, by then it will probably be too late to make a massive return.
Remember just a few months ago, a consortium wanted to by STO outright!!!
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$7.00 |
Change
0.100(1.45%) |
Mkt cap ! $22.73B |
Open | High | Low | Value | Volume |
$6.95 | $7.02 | $6.95 | $37.47M | 5.357M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 109999 | $7.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.01 | 12294 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 104999 | 7.000 |
1 | 500 | 6.990 |
7 | 70521 | 6.980 |
5 | 124573 | 6.970 |
8 | 77996 | 6.960 |
Price($) | Vol. | No. |
---|---|---|
7.010 | 9794 | 2 |
7.020 | 22524 | 6 |
7.030 | 50062 | 5 |
7.040 | 78576 | 6 |
7.050 | 208486 | 10 |
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