I just did a broker activity search for yesterday on Bloomberg
Most of the activity was through CommSec with 30%.
Etrade was next with 14%
State one stockbroking next at 11% Burrell Stockbroking & BBY each 4.5% and then it tapers off
Not much fund manager action there. But at over $1b Market Cap (which we hit at about $2.80, they simply have to wake up and notice it.
We’re talking well inside mid cap size now.
$2.94 gives it a market cap around $1.05b
Consider 150 on the ASX is JB HI-FI, who are a tad over $1b. Cabcharge is the same size on market cap, they are 142 on the ASX.
This is pretty significant.
The question is can it be sustained?
If so, and the US tour will go along way towards answering that, then it is possible that the company will enter the ASX300, or even the ASX200 when they reset the companies that are in there.
No one needs to be told of the significance of that.
Quite clearly the company is at a nexus point.
They have lined all of their ducks up nicely. JV’s, clients, announcements.
Today’s was well timed- Peter can talk about whatever he wants in the USA (for that reason I assume there are no more announcements to come).
They are all well set now. We really need to see some fund managers get in now, then we’re home and hose.
LNC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
