Most of the Westpac stock would already have been short sold.
These placements don't happen overnight and buyers would have been sounded out by UBS well before the story is broken in the press giving them the green light to short knowing they are covered at $6.65.
Be interesting to see the volume tomorrow but if panic sets in it would not be unsuprising to see it below 6.65 on pure momentum.
Should destroy the fallicy of a cup and handle formation
Westpac sells Zip stake, page-96
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Last
$1.83 |
Change
0.025(1.39%) |
Mkt cap ! $2.310B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.84 | $1.76 | $34.05M | 18.76M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6757 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 480347 | 4 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |