The 3 USA banking entities who are holding MGX shares have been selling off so they can have more liquidity so not to follow the fate of some regional banks in the USA who were so illiquid that they could not service withdrawals. On last account they were still holding 55 million MGX shares between them. Judging by the daily volumes they may still be selling, thus hammering MGX's share price.
The Fed chiefs have been aspousing one more rate hike and then take a break for a while to see the effect on statistical data. A little late for some in the USA banking sector, but atleast some respite while the Fed takes time out to wait for the dust to settle.
MGX Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
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