Many would like to arbitrage the SP and the offer- but all would have some idea of what allowance they would be willing to leave for the risk.
38c this morning left little buffer for the risk of the offer falling over so the SP fell. The closing price was well under the VWAP which indicates that the intraday fall was on comparatively smallish volume. Punters will reassess overnight and tomorrow will be a new day.
I eat baked beans from a tin so no real experience of what the bigger end of town need to do to accumulate a position- but I would imagine that they may need to take the foot off the pedal from time to time- allow the SP to fall back somewhat- and then continue to load up.
Would that make sense?
IMHO DYOR
CZR Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
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