Check out the broker data here:https://ibb.co/Kbyfc4g
This is between the dates of31-05-2022 to 22-06-2022
Starting from around the $1.50 range, Goldman has been buying daily all the way down (small amounts on some days and big amounts on other days).
They have purchased over $1M worth of GL1, and pretty much sold nothing! (only sold $40K worth of GL1 out of $1M+ bought over an approx 3 week period)
Sure its not a big amount that they've bought, but thats because GL1 doesn't have high volume trading (refer to the broker data). The biggest net sellers in the same time period were commonwealth, CMC, wealthub, openmarkets (all of which are retail investors).
I find this quite bizarre. Because as i've mentioned in the past, usually these bigger instos trade high volume stocks daily (they dont usually build positions based on what ive seen - it appears they day trade / swing trade and aren't very active on low volume stocks).
For example, during the exact same date range, Goldman has:
Bought $82,706,786 worth of CXO and sold $80,735,464 worth of CXO
Bought $122,890,412 worth of PLS and sold $135,949,547 worth of PLS
Bought $40,712,793 worth of LTR and sold $49,290,779 worth of LTR
My guess is either:
- Their algorithm picked GL1 as being oversold / panic sold
- They have an interest in GL1 and $1M punt to them is like $2 pocket change
- They are planning to pump GL1 soon and will dump into the rally
- They see some kind of value at this price range
- They are genuinely building a position
- They know something that we dont!
Remember that broker data is 3 days delayed, and we had lower lows in the following days, followed by a nice green day on Friday with decent volume on GL1. I will be very interested to see if they were still buying / building a bigger position. My guess is more buying
...
As i was about to post this, i thought id check the entire history of broker data for GL1 / Goldman
since IPO.
GL1 started trading on 7-5-2021
Between the dates of 7-5-2021 and 21-6-2022, Goldman has:
Bought $3,685,023 worth of GL1 and sold $597,063 worth of GL1
Leaving them with a net purchase of $3,087,961 worth of GL1
This looks like they have always planned to have a small (for them) holding / long position in GL1
Here you can see Goldmans first purchase of GL1 (1.5M shares at an average of 0.272 in 2021):https://ibb.co/CwHD0kY
Here you can see Goldmans latest holding of GL1 (3.1M shares - they have doubled their position):https://ibb.co/f8LzZ6x
I may be wrong but does it look like their new average price is $1.073 ??? (unsure if this software is calculating that on the third last row)
So while i do think that there is a possibility that they may pump and then sell - i also think its unlikely. Because if that was the case, why didnt they offload their entire position when GL1 re-rated to over $2.50 - $2.70 ? It seems like they have been averaging up over time with the occasional small sell.
I'll keep monitoring the data in the coming weeks/months
....
As i was about to post this again (lol) , ive checked the broker data between the dates of 01-03-2022 to 30-04-2022 (this is when GL1 peaked and hit its ATH). During this time period, Goldman added 814,378 shares, or $1.6M worth of more GL1 to their PF.
https://ibb.co/MNWHnt2
Here's another shot of them buying above $2.30:https://ibb.co/Z8r1bzx
There's your hopium/copium . So while we are all kicking ourselves for not selling at the top, Goldman didn't sell the top either. They actually added more, and have continued to add during this dip.
(20min delay)