It's a typical strategy when deep pocketed investors what to purchase large quantities without moving share prices. They will buy in large sums where-able, then using auto-programs, they'll sell very small parcels to attempt in keeping prices suppressed, sometimes even 1 share at a time. This psychologically assists retail share holders to part with their positions, or sometimes in extreme cases, stop losses to trigger. It's a technique that preys on impatience and is equivalent to say 8 steps forwards, 1 step back. With IFT being an illiquid stock in the best of times, it makes this technique 10x harder.
On another note, did anyone happen to read the ASPI report on data centres? Seems as if competitors are complaining CDC Data Centres is getting too much business. It's believed to be funded by Macquarie Telecom, Australian Data Centres and NEXTDC. It doesn't specifically state CDC data centres but it's not hard to research and distinguish who holds 80-90% of all government data.
I do agree with some of the issues raised in the report, but ultimately, CDC continually build specific-purpose data centres so it's a no-brainer for governments.
Cheers,
Dalto24
IFT Price at posting:
$6.55 Sentiment: Buy Disclosure: Held
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