Just looking at the trading patterns, this seems to be one or two large shareholders selling down a large block of stock.
This is just a guess, but over the past couple of days, a couple of times there has been a burst of selling suddenly driving the stock well down then it slows and the market price recovers. My feeling is that if it was the market as a whole the selling would be more sustained and the price not so up and down.
Overall, I am not sure that this is anything but noise. It reminds me of when Roger Corbertt became CEO of Woolworths in 1999. The market hated the appointment, and he was viewed as an untried unknown and the share price tanked on the appointment. Of course, he went on to become one of their best ever CEOs and he set the company up for years of prosperity. Not saying this guy is anything in particular, I don't know. Though, this strikes me as a wait and see moment, particularly with the stock so generously priced.
TWE Price at posting:
$8.60 Sentiment: Buy Disclosure: Held
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