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!!!
Chinese Conspiracy
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Last
$7.65 |
Change
-0.015(0.20%) |
Mkt cap ! $24.74B | |||
| Open | High | Low | Value | Volume |
| $7.62 | $7.65 | $7.60 | $6.306M | 827.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 27321 | $7.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.65 | 35529 | 24 |
View Market Depth
| Last trade - 11.55am 01/07/2024 (20 minute delay) ? |
| STO (ASX) Chart |