SPT weren't "throwing money out the door". In fact, they recouped their initial outlay plus about 25% on top and have ultimately retained close to 65% of the original shares that they purchased 5 years ago - Not bad aye? They did well and Lanstead too did well - very well...(at our expense - pr!ck$).
And now SPT free carries 36,500,000 shares! Wonderful for them - really wonderful - yes, yes great.....wonderful. They can sit on them and see how things play out or they could sell on market and move on - never to be seen again - sayonara.
Perhaps they will buy on market now that the deal with LP has been terminated? I only suggest this as there may have been some caveat preventing SPT purchasing additional shares while committed to the deal with LP. I know that's a massive stretch! But wouldn't it be a great sign of confidence to see SPT increase their position.
I'm almost certain they won't reinvest, that wouldn't make much sense - considering they chose not to partake in the RI. Or again, it may be that participation was not an option for them at the time? (Strreeettch)
Realistically I think they'll just hold. Why wouldn't they hold while the price is down? Best to let it play out - costs them nothing!
Whatever SPT chooses to do, good luck to them. It's impossible to know all the reasons why huge companies make the moves they make - and it's an exercise in futility trying to work it out.
One thing we (the minnow retail investor) can do however, in the absence of announcements, is watch the games currently being played in regards to the price action and come to our own conclusions. Look at the volumes, look at the trades, look at the orders, look at the charts - and then make an assessment.
I've made my assessment - and unless something drastic happens I'll stand by my opinion that we should see a steady climb. I'll even stick my neck out and say that I wouldn't be surprised to see a rally in the not too distant future. Just my opinion - time will tell.
BLG Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
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