Yes I hope this is logical thinking in that they only sold a quarter of holdings at roughly 9cents. If they truly believed that was the cap in value for BLK why wouldn't they have sold everything and run. This part sale only will detriment the 75% they still own as it could be a signal of their belief in BLK. If some other instos follow suit now they will perpetuate the fall in the short term. However biggest difference is other intos did not have the courage to buy in at 4cents. Therefore I do not expect others to take profit as the register was churned in the 8 cent mark. With March results only a couple of weeks away I think it's poor form really. Someone in the office may question the decision if March is a ripper!!! Having said that someone else will now benefit so sharing is caring.
BLK Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held