I wouldn't think too much about the thought process behind the selling - sophisticated flippers looked at it and thought it shouldn't lose too much value and took them up. But as there is no quick profit for all of them, and this illiquid stock, many are willing to sell for 172 ish, take a quick little profit, and get their capital back for something else. Might even cap the SP for a while, as they all try to crowd out the door.
Ann: HLO welcomes Qantas share sale, page-14
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