So CBA have made a big placement at $38 and describes this as "good for shareholders".
In what way, good, Roger ?
Insiders and cronies get to buy large numbers of shares almost 20% below the market price. They can then sell a similar number of existing shareholdings around $42, locking in an instant 10% profit on the trade. While other shareholders take a 10% loss. Thanks Roger !
Other insiders and cronies who are not already shareholders get to buy the new shares at $38 and instantly sell them at $42. An instant 10% return on capital. Not bad for a one-day investments. And other shareholders take a 10% loss. Thanks Roger !
bad news for shareholders
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Last
$137.49 |
Change
1.540(1.13%) |
Mkt cap ! $230.1B | |||
| Open | High | Low | Value | Volume |
| $136.34 | $137.53 | $135.60 | $306.5M | 2.235M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4 | $137.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $137.50 | 8262 | 12 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| CBA (ASX) Chart |