On Wednesday you asked: "As at 11.21 24 buyers for 2,077,130 units 69 sellers for 5,323,652 units. SER down another 2.1c this morning. You might see no need for panic but many other SHs clearly do. So who is right, you or they?"
By the close on Wednesday, there were 30 buyers for 3,159,831 shares and 45 sellers of 2,528,860 shares and the last sell price was 11c, .5c down for the day (which, lets face it, was pretty horrible for the market in general).
In the past three trading days, about 10.5million shares were sold and we've no way of knowing how many of those were actually being re-sold by traders making their profit or cutting their losses.
SER has 333,022,499 shares on issue. So who are right - the sellers of the roughly 10.5million shares (approx 3.2%)sold, or the buyers of the roughly 10.5million shares sold and the holders of the approx 322.5million who decided not to panic-sell?
Using figures from SER's annual report (and of course the situation would have altered somewhat since then) the Top 20 shareholders accounted for 125,966,370 (39.21%) shares while 83.08% of the company's shares were held by 395 shareholders with 100,001 or more shares each. There is no evidence of a selloff by top shareholders.
Who knows what the situation will be by soon after the start of trading on Thursday? I certainly don't. The pendulum could swing either way. Snapshot facts and figures only go a small way to being useful and, like Wednesday, can even tend to muddy the waters.
What would be a lot more useful is a follow-up (and far-better thought out) anouncement from SER management offering a more detailed explanation of what we are all basing our individual decisions upon.
Sunman
SER Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
