rw, "2 days left till insto get there 42 million shares and retail investors get theirs at a $10.70 price."
Perhaps you have your facts mixes up. However you are forgiven
The whole idea is for traders and investment companies to get stock cheap or do a turnover and get a profit, right?
Well perhaps a few of those 42m shares went into the frothy market and were sold >$14. Now the price settles and they by the same shares back at ~$12.25.
If there were 10k of shares, bought at $10.70, sold at $14, bought at $12.25 what is left is 10k of shares and a profit of $17500.
The cheaper they can be bought from now the more money is made.
Then of course they can short QBE via leveraged play so the last step gets a profit of $175,000 + the 10k of shares. Plenty more ways to do it.
These plays are all perfectly legal and they do work, that I can vouch for.
QBE Price at posting:
$13.90 Sentiment: None Disclosure: Held
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