Referring to the Top 20 and change up since 2023. Below red lines have either reduced their holding the last 12 months or completely gone. Green on the new Top 20 either accumulated more during CR or are completely new. Churned basically the Top 20 in 12 months. That poses the double edge sword questions - Did the long termers sell at a loss and get out as they don't see much for the next 12 months? Did they just reduce their position to sub Top 20 ownership? Granted the 14-20 in the 2023 report could still hold their shares and fell out of the Top 20 as the minimum holding requirement did increase. Further begs the question, why didn't they take up more in the new offer?
Is it viewed as positive or negative that it has churned this much?
LDX Price at posting:
3.9¢ Sentiment: None Disclosure: Held
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