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Why are they (Nermone) selling their shares on great news - I...

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Macho Man Savage

1,140 Posts.

151

15/07/16

12:03

Post #: 18277848
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Originally posted by webbj ↑

This is good news on so many levels!

Confirmation things are on track. Tracking ahead in fact. Confirmation that things aren't terribly bad and people with inside info were selling out (might appease some nervous nellies anyhow).

Pushes the price back up to its long time support line after being dragged down by retailers and lack of news.

Perhaps most importantly at all though, its a liquidity opportunity for the big guys who want out... So far today, most of the trading is at 11c-12c and the volume of Chi-X and cross trades looks very much like some big holders moving parcels.

Nermone were offloading for some time, but stopped once the price dropped below 10c. It would not surprise me if we check broker data next week to see them having offloaded more in this spike . 20m volume today - so far - which is great. They only hold 51 million shares now, so hopefully have or will be completing their sell down.

If their offloading coincides with a few more positive company announcements.. the sky isn't the limit, but the old SP with a 2 in front of it certainly is a possibility imo.

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Why are they (Nermone) selling their shares on great news - I don't understand that.

Randy

SEN Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.3¢		Change 0.001(8.33%)		Mkt cap ! $20.42M

Open	High	Low	Value	Volume
1.3¢	1.3¢	1.3¢	$1.254K	96.42K

Buyers (Bids)

No.	Vol.	Price($)
2	974996	1.3¢

Sellers (Offers)

Price($)	Vol.	No.
1.4¢	730916	4

View Market Depth

No.	Vol.	Price($)
2	974996	0.013
4	776665	0.012
4	2227272	0.011
3	1150000	0.010
1	200000	0.009

Price($)	Vol.	No.
0.014	730916	4
0.015	10000000	1
0.016	277769	3
0.019	4500	1
0.020	102024	2

Last trade - 10.49am 14/06/2024 (20 minute delay)


Last 1.3¢			Change 0.001 ( 0.00 %)
Open	High		Low	Volume
1.3¢	1.3¢		1.3¢	189882
Last updated 10.56am 14/06/2024 ?

SEN (ASX) Chart