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    Yep, agreed. But I don’t think it’s just retail. I’d suggest it’s a few soph’s who badly misread the book when they went in hard in January with the big purchases. Ever since then they’ve been slowly trying to average down, but only on relatively small volumes.

    Anyway - next week should be interesting. They usually release the mid-quarter 14 days after the fact, so it’s due on or around Wednesday. How much TTV is the question!
 
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