Broker data for the day of the announcement.
Massive selling from professional investors to retail — a classic example of retail trying to catch a falling knife.
Top 4 buyers — all retail brokers.
Accumulation/distribution chart for retail investors.
A clear demonstration of the magnitude of selling from professionals to retail. There’s a huge spike in retail holdings on the day of the announcement.
Accumulation/distribution chart for investment banks. As you can see, investment banks had been accumulating, but the news caught them off guard as well. The result was a wave of selling. I’d expect that selling to continue.
(20min delay)