It's all very interesting watching this accumulation at just over the $1. We should all remember though that the funds are not the sole determinants of price. They could take a bath on this one as well. Sure, they will be hanging out for the sling but it all depends if ZFX want to give it and how keen are they to get AGM.
I think Michelmore went the same military school as the British General's in WWI who dreamed up the attrition theory for the battle of Verdun.
This last two weeks proved nothing and achieved nothing. Is he trying to bore everybody into handing over their shares?
All I can think is that he has a strategy that dictates the overall market is headed for a further fall and thus in relative terms when the market falls he thinks everyone will think $1 is a great get out.
I thought it was very interesting when trading recommenced after the last pre-open. Basically ZFX got smashed big time down to $1. Just why I don't know. It may have something to do with ZFX expected dividend or may have something to do with the handling of the takeover. Either way , maybe Melua should be shorting ZFX as well as AGM.
The saga continues.
Chinkiat
AGM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
