I may have this completely arm about but my interpretation is that NAB are going to sell sufficient shares to fund the dividend, with the selling commencing from Tuesday.
If ABN's figures are correct that means about 2 million shares a day at market which should logically drive the price lower. However as they mention, the NAB broker will be trying to unload with as little price slippage as possible.
Their rationale for going long this morning was probably the rise on bond prices in o/n markets which should have (did) give our banks a pop early. A trade for the nimble (which I aren't).
So far ABN seem to be calling NAB pretty well.
I may have this completely arm about but my interpretation is...
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Last
$37.95 |
Change
-0.970(2.49%) |
Mkt cap ! $115.9B | |||
| Open | High | Low | Value | Volume |
| $38.51 | $38.53 | $37.53 | $195.5M | 5.158M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1291 | $37.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.95 | 15238 | 1 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| NAB (ASX) Chart |