Well, certainly there is no doubt that some shareholders are selling. My view is that it will soon be obvious as to the agendas here. I believe that management is always the key to business success so If you want to understand how the company is doing I suggest you take their half-yearly results and map management and directors. If does make for interesting reading here.
I also suspect that the volume of sellers seems to be drying up, certainly, the sell-side which to date has had a number of sellers - which now only has 1 at 53c has for the past few weeks struggled to have sufficient selling volume so the price has climbed. Certainly, those that comment on the fact that we have got our facts wrong will have little evidence to prove that if they disappear from the top20 at the half-year stage as I suspect they will.
I believe that will end a long term overhang that has been there for a few years. I certainly am not selling my shares because I am not sure there is enough churn to be able to buy them back. As of this morning, the queue is 323k to buy and 94k to sell. I think that says it all and provides the backdrop for the slowly rising share price
SEQ Price at posting:
46.5¢ Sentiment: None Disclosure: Held
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