Somethings not adding up here ( correct me if I am wrong). Based on the routine Notices advising the ongoing conversions, on 30 August there were 417 million options listed ( not yet converted). Fast forward to yesterday, there are 292 million options still remain to be converted. So over that period of time approx 125 million options have been exercised and converted. BUT over that time period, where 20-50 million shares are being sold daily, there is no way even allowing for daily churn that the selling is dominated by those selling simply to pay for the options conversions. It just does not stack up arithmetically in my mind. So it looks to me that the selling pressure has been substantially due to sellers taking a "risk on" stance and unloading rather than having a neutral stance where they convert options to fully paids on a 1 for 1 basis. ( ie, a net zero change in their risk profile)
RDN Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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