BNB babcock & brown limited

I quite like this from another forum in response to a statement...

  1. 338 Posts.
    I quite like this from another forum in response to a statement suggesting we take heed from Inside Business painting an ominous picture for BNB's survival -

    I'm sure the transcript does not include the following..."the media, having reported on troubles in BNB in recent weeks, continued their "abandon all hope ye who enter here" angle because they found the story sold a lot of papers. The fear they stirred up forced all the mums and dads to sell 42million shares on Friday to market makers. When interviewed, the smart money commented "yes, thanks Mum and Dad for coming to the party. We do that whole absorption thing quite a bit actually. CNP, BDG, BNB to name a few...you'd think our tactics would be pretty obvious...I mean BNB barely moved on Friday between open and close given the unprecedented volume, but people get caught up in the frenzy... its all good...sure the stock will be ratsh*t for a couple of years, but we get our stake in at bargain basement prices and we can hold on now for sunnier days. What we'll do now is just wait a few years until the financial sector is kicking ass, and then we'll start to offload to the same Mums and Dads who sold to us at $5".

    There is smoke and mirrors and Friday's action is a part of that. I'm not suggesting people buy or hold, and i'm just an observer...I'm simply re-asking the question - why did someone absorb the supply on Friday if BNB is sliding into oblivion?
 
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