Two days of falling after the spectrum announcement would suggest the decision is priced in. Falling even today is a bit of a mystery.
While TPM is nowhere near the size of TLS, I expect that some insto holders of both stocks may have been offloading their TLS to subscribe to the TPM entitlement offer. Also there was a shortfall in the institutional offer leading to a bookbuild which would explain some of the weakness today. Market makers and professional gamblers then amplify the volume.
A$4.10 trading - very disappointing start to the week, page-43
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 (20min delay)
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Last
$3.92 |
Change
-0.030(0.76%) |
Mkt cap ! $45.29B | |||
| Open | High | Low | Value | Volume |
| $3.95 | $3.95 | $3.90 | $69.01M | 17.63M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2108 | $3.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.92 | 282151 | 15 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| TLS (ASX) Chart |