If no one else is going to bring it up, I guess I will. What happened to the 12-month "standstill agreement" with ATL, given that their holding has decreased by ~4.3 million shares over the 10 months they've held them?
Now why would a multi-billion-dollar company like ATL be offloading small parcels of AGY shares in apparent violation of a prior agreement? It’s unlikely they need the tiny amounts of cash that these sales would have generated. A more plausible scenario is that AGY now has a fox in the henhouse. ATL may have been strategically selling to create weakness, possibly offloading shares in a controlled manner during low-liquidity periods to sustain the downtrend. Alternatively, they could be attempting to trigger stop losses to gauge liquidity ahead of a predatory move while AGY is vulnerable.
Regardless of the motive, selling when they had agreed not to doesn’t inspire confidence.
AGY Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
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