There has been a lot of whispers going on around UMC and maybe Shaws jumped on board for reasons that are no longer expected to materialise. Will be very interesting to see whether they are buyers or sellers over the next few days.
My thoughts are that all the deals that management thought they could do have fallen through for now and they are back to square one...hence all the buyers that speculated on a deal being done maybe the ones selling. But who really knows what is going on....how have we gone from that ridiculous quarterly where we had tonnage estimates, ‘new opportunities’ etc to no announcements at all.
Will wait and see how management responds to the 20 questions but my guess is their response will only disappoint
UMC Price at posting:
72.0¢ Sentiment: Hold Disclosure: Held