So it appears that Harry Karellis (Chairman of Zelda) has pulled off two clever stunts in one week:
1. He has masterminded the transfer of equity from shareholders/ directors of Zelda to a private company in the US. The new owners will instantly get liquidity and can sell down their stakes in a private company which does not appear to have a great deal of value.
2. Simultaneously he has bought Auscann shares (AC8) from Canopy Growth, who have sold their whole holding in AC8 for under 50% of the listed price to Harry Karellis and his company (Merchant). Naturally, since he came across this many shares so for so cheap, it would seem inevitable that he is going to sell fast on Monday to realise his immediate profits.
Genius he is..... but we pay.
ZLD Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
