Just caught up on today's trading and it looks like we've got a capper the clown here. I can see the 14m sell order first came in @ 2.6c, then quickly bumped down to 2.5c. No one looking to sell would be that amateurish. You wouldn't flag to the market you've got 14m shares to offload at whatever price. You'd feed it in to the buy line progressively without smashing the clear buying momentum we saw early on.
No, IMO, this here is a classic capper, placing a large size order to freak out anyone (small retail usually)... to panic and sell into capper's buy orders on the other side. And you won't see them stack the buy side either, it'll mostly be off-screen action, slowly hoovering up as much as they can, without triggering the SP spike we first saw at the start of the day. I can attest to this as it happened recently on another stock I hold... we had to suffer this capper the clown for a few weeks, til they got their fill and then magically it got pulled and this stock has since run big time, like up 90+%. But in NWE's instance, IMO, I believe this is a ploy to keep the SP low for any future TO... lower VWAP over 30 day, 14 day etc. Standard M& A stuff.
So yeah, capper the clown will be doing this, hoping that plenty of holders lose patience and pull the pin... making the most of the news void until we get firm comms on the production testing. Because mark my words, when we know testing is around the corner, and we finally get confirmation of an epic flow, then this should fly.
Hang tight if you can... I believe the rewards will be worth the wait.
GLTA
NWE Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
