CVN Announcement (carrying the KNOWN bad news re FID) came out on 17th.
Same day, SP crashed to 16.5c with a TO of 46 million.
Next day, SP remain in the low ball park and again TO of 36 million.
Day after, announcement of substantial holdings.
Usually, Substantial Holding announcement don't come out that quick, so in my opinion, that is not as a result of the last two days' trading, but a reflection of what was happening last weeks or months.
They were however, very opportunistic with the CVN Announcement to get another 80 million. Knee jerk reaction would have caused a lot lot of regretful selling last two days.
Two things came to mind. One, this sub holding is not going to lead to a TO though, as I don't think a "Fund" would be doing it. Second, can't help feeling that CVN is involved with this mix somehow.
Ann: Becoming a substantial holder, page-8
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Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 16.0¢ | 15.5¢ | $93.18K | 583.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 354802 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 55498 | 2 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |