Like you and others i have many assumptions on whats been happening here. This latest reload selling could just be an attempt from the CR instos to keep retail from participating in the spp by pushing the price lower than the offer at 44. Or it could be as simple as people selling to fund their spp, however this selling is programmed so its clearly a deliberate act to push the price lower.
Will be interesting to see if Ron takes his holding back up to 30% via on market buying. Its hard to see 12 aussie instos taking the CR at 44 and all flipping for a loss. If it was 1 or 2 instos then yeah highly possible, but 12 i doubt it.
Like you and others i have many assumptions on whats been...
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