Prior offer was $4.
IFL has taken forever to hit $4.
Now an offer of $4.30?
Seems to me like
DEG, when
NST offered a takeover over $2.10 and prices barely reached $2 and dumped towards $1.77 and lower.
I made this thesis some time back in the DEG threads:
https://hotcopper.com.au/threads/afternoon-trading-december-13.8365551/page-140?post_id=77039770
IFL has gone up on margin calls from 17th July til current. only
7M shares remain short. Could have just been catalysts to margin call them into highs before the offer declines or something else occurs. Just a funny feeling is all
I believe sellers will be back soon I don't trust this news or the price action moving simply on shorts closing positions. GLTAHz!
(20min delay)