Imagine if they instructed fosters to place a bid for 20 million or more shares on the market. their intent is to buy up to 140 million. The whole reason is because they feel the share is undervalued, and for their own money (and they have $100 million plus) its the best investment. Placing a big buy order would certainly put a floor on the price. I know their are rules they can pay more than 5% of the 5 day vwap, but is there a limit on the amount that can be bought in a day? I cant see them getting any more than 3 million if that at under 30c. Imo smart buyers are accumulating now before they start themselves. I will be looking to see if any announcement 30 mins before market tomorrow to see if they have started
MLX Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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