agree. Very strange and rare. But, do you know what else is very strange and rare? An actual ASX spec becoming something other than a spec.
for mine, I see 80% of the ASX specs simply being run by management, for management.
5% being operated with a view for buy out.
15% being run with the genuine intention of making a profitable business.
of that 15%, probably 1% make it (FMG etc).
of the 5% aiming for a buyout, I’d guess the percentage is a little higher. So, for mine, the ‘buyout’ stocks are my preferred.
all this said, I take great comfort in the fact that the buying activity is unusual. As stated, it’s incredibly unusual for a spec to do what it’s intended to do.
if it were behaving the way the 99% of specys on the ASX do that fail, I’d be far more alarmed.
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