So the massive wall at .13 stays overnight. Just some head scratching here:
Why did the millions of shares suddenly appear? A smarty-pants answer would be "because they wanted to sell them?"
But I believe that someone wants the price to stay right where it is. Let's face it, for whomever it was that put 7 million shares up for sale didn't get them in the retail entitlement, did they? At 1:4, that would mean that if these were .10 shares being dumped, that body would have had to hold 28 million of them at least. Now we're talking major shareholder. So I believe that this is perhaps an Orbis or other big holder capping the price and getting others to pile theirs on top at .13. When they are ready, they will pull their .13's off and scoop up what's there at .13....
Is this a credible hypothesis? Good minds on this thread, so happy to get feedback. But let's follow the thinking a bit further...why would someone cap it right now? My take is this: There would be plenty of small investors who might just give up for the "mere" 30% profit on their .10 shares. So now's the time to bait them. Further, now is likely to be the time because as many have posited, the sp is about to lurch forward - probably in the lead up to the AGM.
Thoughts?
Cheers.
ST
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