All part of the cat and mouse game here, HC is not immune to it anymore (if it ever was) as you’ve observed too. Whenever multiple bidders chayse an asset you start to see the brokers and hedges deploying all manner of tactics to spread scepticism thru various channels while they in turn accumulate under the threshold, later reselling the stockpiled blocks to the chicken dinner winner at a couple of pips discount to the final binding offer price once standstill is over. The next 6-7 weeks should be interesting in this regard too - how many times will we hear “but they’re still non-binding” and “$5 will be the ceiling” etc etc I wonder.
IFL Price at posting:
$4.26 Sentiment: Hold Disclosure: Held
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