Looks like a large institution has been dumping stock? for a couple of weeks then announced in between trading last night and opening today, they had transferred around a Billion dollars of stock (using JPMOrgan) off market "and had been looking" for a buyer at at $21.60 a share.
This of course produces large distortion of the market and also uncertainty - both of which produce downward pressure on the SP
That's my understanding of it all anyway
Because what else can be deduced?
Has there been a formal announcement what's been going on?
Happy to be corrected.
NA/IMO
Iron ore price, page-52527
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Last
$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |