Blackcrane Investment Process - A toe in the water!, page-2

I was looking at each of the individual Blackcrane buys disclosed in the filing and found their accumulation pattern rather interesting. They started testing the waters in February, placing a few small buys in AVMXY. On March 19th, they had invested ~$200k USD in AVMXY. This is when they ramped up their accumulation and began purchasing AVH directly. Over those last two weeks of March they purchased an additional ~$9.5million USD in combined value of AVH and AVMXY shares, making their initial February investment pale in comparison. Finally, on 4/8 and 4/9, they nearly doubled their investment, purchasing another ~$16.5million worth of AVH and AVMXY at an average AVH price of 0.46AUD.

As an Avita shareholder, this activity was certainly a welcome sight, but their approach to building this position is nonetheless surprising to me. Based on their initial buys, Blackcrane would've been well aware of the impact their large orders on 4/8 and 4/9 would've had on this low float stock. I can only guess that any professional trader/investor would have opted to spread out their 4/8 and 4/9 buys over a longer time frame to get a better price. On the flip side, the fact that this investment firm was willing to double their position at 0.46AUD/share is good information to have as it confirms that even after this run the professionals agree with a lot of us on this board that there is still a lot of value to be had here.