"Is it possible that some of the recent buying activity is specifically related to the recent index rebalancing? "
Who knows why people buy and other people sell at any given points in time?
I think its a bit futile to spend much time thinking about these sorts of things, because you'll very seldom know for sure.
But I think that, on the rare occasion, one might be able to form a reasonable view of what is driving share price performance.
And in this case, I believe it is because of recent updates emanating from a number of consumer-facing companies (BAP, CAR, JBH, SUL, WES, BLX yesterday, SSG today), which show that the consumer has not remained rolled up into a ball as the economy emerges from the Covid shutdown, but has rebounded with some vigour.
And in TRS's case, there is the added dimension of self-help in terms of the scope for new management turning around a business which has been chronically-underperforming for several years.
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TRS Price at posting:
$7.40 Sentiment: Hold Disclosure: Held
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