EVERYONE has just offloaded 20% of their stake at $14. They now raise a piddly $250m at 5.75 and you think people will now sell to raise cash?
Every broker/insto/hedgie has been playing this arb. If they were going to sell more than the 20% they would have been the ones pushing it from $12 to $7 over the last few weeks, hence the bargain price insto's will get their shares back at.
This was clearly foreshadowed if you missed it you weren't paying attention. Even on a technical basis it gave a buy last week.
There may be some downside from here but to what $6? More likely for longer term holders is a return to $10 over time.
And in the meantime you've swapped $14 shares for $5.75 shares.
EVERYONE has just offloaded 20% of their stake at $14. They now...
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Last
$3.97 |
Change
0.020(0.51%) |
Mkt cap ! $1.517B | |||
| Open | High | Low | Value | Volume |
| $3.97 | $3.98 | $3.92 | $5.050M | 1.275M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 122726 | $3.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.99 | 23187 | 7 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| NUF (ASX) Chart |