That's seems to be exactly what's going on. The short positions are very low. They have been around the 100k or lower for most of this month, half the month has been around 50k. If someone knew something we don't you would imagine that level would be far higher with sustained pressure. The shorts have been up and down like a bride's nightie.
194 Million are controlled by Len or entities associated with him. Almost 90% held by the top 20. A very tight register that has been easily manipulated over the years.
I don't believe the M&A theory (Baillieu Holst) is in play here, as much as this suppression looks like a pre bid sell down. There's one major stumbling block to a T/O of AGI and that's Len. He's continually stated the share price is of no concern to him. It's the challenge to succeed once again in his case IMHO. Any bid would have to be at a crazy 100% premium to even get a look in and then I don't believe he'd entertain it.
I hope there's no T/O agenda here. The dividends are increasing and franking credits are a real chance next year. Nothing worse than getting cut down in the prime of life.
AGI Price at posting:
$2.90 Sentiment: Buy Disclosure: Held
