Another interesting day’s trading, but this time in the other direction .
So…what to make of it?
Volume wasn’t paltry, but wasn’t large either…around $120,000 worth of shares traded. The share price seemed to fall quite quickly and suddenly when most of these were traded in the middle of the day. A few speculative scenarios…
a) an insider with knowledge feels fairly sure there is no take over offer coming, and so has sold.
b) it’s someone like @bluetech, who isn’t sure what is happening and has decided to take a profit while it’s available.
c) Mr Kanji himself is doing some strategic selling, to drive the price lower to make whatever price he has in mind for a take over offer more viable.
Of course, it might be just a case of “more sellers than buyers” on a given day in a relatively lightly traded stock, and there is actually no point in trying to explain it.
Guess we’ll just have to sit patiently and see what (if anything) happens next
ST1 Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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