"Sophisticated investors" are people who manage an investment portfolio worth a minimum of $2,000,000.
Rich? Yes.
Smart? I would say mostly.
Due diligence by each of them was done and as a result, they tripped over each other to eat up as much STX stock as they could possibly get, at 7c per share.
Thanks to smallish selling volume, we now have the opportunity to also buy in, but at a near 20% discount to what they paid just 2 months ago. Are you kidding me!!
Oh but then again, maybe all 130,000,000 of them got it wrong and the share price will throw up an even bigger discount. Riiiiiight. Good luck with that.
In my opinion, the rich will always get richer and all those category 708 investors who took stock in the 7c raising, will get an excellent return on their investment.
Anyone else buying at 5.8c?
STX Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
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