I note that so far today, with 2 hours left in the session, NQM has traded an extraordinary 17 million shares.
Nonetheless, NQM's share price has risen only 1 cent (2.67%). Do you reckon
1. NQM holders are running for the hills?
2. Traders are arbitraging their way into CQT at a 4.5% discount (NQM @ $0.385, CQT Offer worth worth $0.403 if you think CQT is fairly valued at $0.505, up 1 cent = 2% on the day)?
3. Both or neither?