Correct. Was a nice little pullback on greatly reduced volume today.
Was expecting it to hold a little higher but it is playing out as a classic accumulation play with regards to the price action and a capper in place in the 20's for now. When that stops and they have their fill, nobody but them know and once the foot comes off the throat, more than likely it will be accompanied by news and it should rocket up.
DubSpec, I would suggest these people are not some 'rich dudes' as you put it like some kids in a candy shop with their Dad's money. People don't usually stay rich by wildly throwing money around particularly on an ASX listed stock when they have the open markets of the US and indeed Europe ready to happily have them take a sizeable position in their business. Be sure to know that they would be courted by many tech companies and would brush away the vast majority. They are not institutions gambling other people's money looking to show a return at the end of fin year. This is a private mob who have put their own money on the table.
The aquirers of this parcel of 9m shares obviously would have thought to themselves the same as us as to why Patrick was selling out and have decided to offer substainally above market cap to acquire the shares further to conversations with all parties and of course their vast team of analysts and advisors.
IMO DYOR
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