Like most of us I have been pondering the crash in AMX - so I charted the daily close and vol numbers since 21 Apr 2011 - alongside main events - just so we all know some basic facts. [1] 70Mill shrs traded 21 Apt 11 to 20 Feb 12 - average 335,770 per traded day. [2] 105Mill shrs traded 24 Feb to 14 Jun 12 - average 1,383,671 per traded day. [3] 55,240,649 Total bought by Taurus, Black Rock, ACORN in 2012. 24,584,530 bought by Taurus; 17,783,085 bought by Black Rock; 12,873,034 bought by ACORN. [4] So 50 million shares bought by as yet unknown parties - or churned ? [5] On the chart I have marked with 5 red X's the following dates. 30 Jan - AMX ann re metallurgy. 23 Feb - start Taurus buying. 18 Apr - Taurus ann 7.19%. 10 May - Taurus ann 8.32%. 15 May - Taurus ann 10%. then not marked - 29 May - Black Rock ann 7.5%. 7 Jun - ACORN ann 5%. Trying to weigh up all factors - I suppose I am puzzled at the intensity of the AMX crash - at a time when 3 big groups have accumulated serious stakes. Looking at the gyrating 10 day average volume I wonder if robotic trading is playing a role in depressing the price. But like most of us I do not have the detailed knowledge to be well informed. I look forward to hearing other views - and it would be useful to hear more from Ampella about the nuts & bolts of where the selling has been coming from since start February.
AMX Price at posting:
59.0¢ Sentiment: LT Buy Disclosure: Held
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